Walmart To Buy 73% of India's Flipkart For Up To $16B; Alphabet Might Put in $3B: FactorDaily (factordaily.com)

Here's an interesting development about to take place in India. From a report: Walmart Inc. has decided to go all in on its deal to acquire Flipkart in a deal sealed on Thursday to buy 73% of the Indian ecommerce company in one of the biggest mergers and acquisitions in the country -- spending at least $14.6 billion in the cash-and-stock buyout. One source said Flipkart was valued at $20 billion, while two others said Walmart, the world's largest retailer, had put the target company's value at as much as $22 billion, a price at which it will spend more than $16 billion. Alphabet Inc., the parent company of search giant Google, is said to be participating in the deal with a $3 billion investment. Kalyan Krishnamurthy will stay on as chief executive of Flipkart.

Comments

Re:Don't tell us

[ArchieBunker]

Owned by an Indian company. No wonder it looks like cheap flashy shit.