Walmart Buys 75% Share of Flipkart, India's Largest Ecommerce Platform

Competition with Amazon heats up

Flipkart must feel like the belle of the ecommerce ball.

FlipKart, the Indian ecommerce marketplace, “has approved an agreement to sell about 75 percent of the company to a Walmart Inc.-led group for approximately $15 billion,” according to Bloomberg. Flipkart generated $3.1 billion in revenue last year.

Walmart said it had no comment.

This comes a day after CNBC reported that Amazon not only offered to buy a majority stake in the company, but it also offered a breakup fee of $2 billion and a non-compete. Walmart’s previous bid was rumored to be around $10-$12 billion. Alphabet

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