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4 May 2018

Flipkart's board approves $15bn Walmart takeover

SotfBank is set to completely exit Flipkart as part of a deal that will value the company at $20bn, in which Alphabet is now expected to be involved.

Author: Robert Lavine, News Editor

The acquisition of a majority stake in India-based, corporate-backed e-commerce marketplace Flipkart by US-headquartered big-box retailer Walmart has been approved by the former’s board of directors, Bloomberg reported today.