more-inWalmart Inc on Wednesday announced that it would pay $16 billion for an initial stake of approximately 77% in homegrown e-commerce company Flipkart. With the investment, Flipkart will leverage Walmart’s omnichannel retail expertise, grocery and general merchandise supply-chain knowledge and financial strength. While Walmart and Flipkart will leverage their combined strengths, they will maintain distinct brands and operating structures. Adrian Lee, research director at research firm Gartner said he saw the competition getting more aggressive as “Amazon counteroffers Walmart for a stake in Flipkart. Acquisition spreeThe Flipkart deal follows Walmart’s decision to sell Asda to U.K rival Sainsbury in a $10 billion deal.

Source: The Hindu May 09, 2018 09:16 UTC