Walmart takes over India’s Flipkart

Wednesday, 9 May 2018 16:00

Walmart has taken control of India’s biggest online retailer.

Flipkart has more than 100 million users and has been bought for around $16bn. Walmart, the worlds largest retailer, will take a 77% stake - valuing the Indian company at more than $20bn.

Flipkart has been under pressure from Amazon since it arrived in India five years ago. It is understood Amazon had been considering making its own offer for the Indian firm.

Online sales are expected to soar in India in coming years as more of its 1.25 billion population make more use of the internet.

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