Walmart buys 77% stake in Flipkart for USD16 bn
The world's largest retailer, Walmart Inc, on Wednesday announced it was buying 77% equity stake in India's e-tail major Flipkart for USD16 billion.
 
"Subject to regulatory approval in India, Walmart will pay USD16 billion for an initial stake of 77% in Flipkart," the Kansas-based company said in a statement from the US.
 
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Comments
Guruprasad
5 years ago
Walmart is based out of Bentonville, Arkansas (not Kansas)
Ashok Visvanathan
5 years ago
I hope Walmart will subtract the TDS and pay it to income tax. Since they are buying a Singapore company with underlying assets in India. Otherwise it will become like the Star TV case .
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