Walmart is bumping up its stake in Flipkart, India’s e-commerce giant, at a handsome valuation. The U.S. retailer is buying shares from Tiger Global for $1.4 billion, according to the Wall Street Journal. The purchase, which probably pushes the parent’s ownership level to around 80%, values the company at $35 billion. It’s a good deal for the seller as investors assess India’s hottest retail businesses.
Small toy shopping cart is seen in front of displayed Flipkart logo in this illustration taken, July 30, 2021.
Dado Ruvic/Illustrationis bumping up its stake in Flipkart, India’s e-commerce giant, at a handsome valuation. The U.S. retailer is buying shares from Tiger Global for $1.4 billion, according to the Wall Street Journal. The purchase, which probably pushes the parent’s ownership level to around 80%, values the company at $35 billion. It’s a good deal for the seller as investors assess India’s hottest retail businesses.
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