Walmart, which closed its $16bn acquisition of a 77% stake in Flipkart in August, has boosted its share of the e-commerce marketplace to 81.3%.
Retail group Walmart has increased its stake in Flipkart, the India-based e-commerce marketplace also backed by fellow corporates Tencent and Microsoft, from 77% to 81.3%, The Hindu reported on Tuesday.
Flipkart’s e-commerce platform features consumer goods across some 80 categories including electronics, household goods, clothing, toys, appliances and sporting equipment.
Walmart paid $16bn for a 77% stake in the company in August this year, providing an exit for investors including telecommunications group SoftBank’s Vision Fund, media company Bennett Coleman…
