more-inWalmart, the world’s largest retailer by revenue, has almost completed the process to buy a majority stake of up to 75% in India’s largest online retailer, Flipkart, to rival Amazon, two sources familiar with the deal said. The sources also said that the Bentonville, Arkansas-based company, might also partner with Google in the deal that values Flipkart at about $20 billion. “The Walmart-Flipkart deal will be a disrupter in online retail industry in India,” N. Chandramouli CEO, TRA Research, said. “Walmart’s partnership and investment in Chinese online store, JD.com, is the model that they will probably be replicating in India as well. Buyback of sharesThe company recently concluded another buyback of shares worth $350.46 million from investors, a move that is likely aimed at paving the way for Walmart’s stake acquisition, according to data from business intelligence platform, Paper.vc.

Source: The Hindu May 06, 2018 18:56 UTC