Walmart buys controlling stake in India's Flipkart for $16b

Walmart buys controlling stake in India's Flipkart for $16b

Photo: Reuters

Walmart Inc will pay $16 billion for a roughly 77 percent stake in Indian e-commerce firm Flipkart, the U.S. retailer’s largest-ever deal, in an attempt to compete with rival Amazon.com Inc in a key growth market.

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