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.
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.


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 .
Free Helpline
Legal Credit