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Walmart Taking $16B Majority Stake in India E-commerce Firm Flipkart Group

Walmart Inc. has signed definitive agreements to become the largest shareholder in Flipkart Group, considered a key player in India’s burgeoning e-commerce sector. Walmart will pay about $16 billion for an initial stake of approximately 77 percent in Flipkart, formally known as Flipkart Private Ltd., subject to regulatory approval in India. The remainder of the…

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