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Walmart to acquire 77% stake in Flipkart for $16 billion

Putting an end to the rumors and reports, Walmart has officially confirmed that it has signed an agreement to acquire 77% stake in Flipkart for about $16 billion. The investment will help accelerate Flipkart's customer-focused mission and traansform commerce in India through technology, at the same time boost Walmart’s commitment to sustained job creation and investment in India.  Flipkart’ leadership team will be supported by Walmart, Tencent, Tiger Global, and Microsoft. It is to be noted...
Read More at:
http://www.fonearena.com/blog/251938/walmart-acquires-flipkart-stake-for-16-billion.html

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