It’s increasingly appearing like Walmart and its partners will probably beat Amazon to take over Flipkart, the Indian e-commerce giant.
Mr reported Friday the Flipkart’s board has approved the sale of a approximately 75% stake to the Walmart group, which also includes Google parent Alphabet. The report says that Japan’s SoftBank will also sell the group its stake, which is in excess of 20 percent. The deal would appreciate Flipkart at around $20 billion.
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