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Walmart to purchase 77% in Flipkart for $16 billion

Updated : June 07, 2019 11:15 AM IST

Walmart has agreed to purchase a 77% stake in Indian ecommerce company Flipkart for $16 billion, in what is the country’s biggest foreign direct investment to date.
The remainder of the business will be held by some of Flipkart’s existing shareholders, including Flipkart co-founder Binny Bansal, Tencent Holdings Limited, Tiger Global Management LLC and Microsoft Corp.
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