Walmart readies Flipkart announcement
Walmart is set to announce the acquisition of a majority stake in Indian e-commerce venture Flipkart this week.
The US grocery giant has agreed the purchase of 75% of Flipkart for around $15 billion, according to media reports. If the deal were to go through, it would represent a significant victory over arch rival Amazon, which last week made a formal offer to buy 60% of Flipkart.
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