: Walmart spends $1.4 billion to increase its stake in India’s Flipkart: report


Walmart Inc. spent $1.4 billion in recent days to increase its stake in privately-held Indian e-commerce company Flipkart, the Wall Street Journal reported Sunday.

Walmart WMT, +0.47% has bought out Tiger Global’s stake in Flipkart, according to the Journal, citing a letter from the New York hedge fund to its investors. The transaction reportedly valued Flipkart at about $35 billion, down a bit from its $38 billion valuation in 2021.

This article was originally published by Marketwatch.com. Read the original article here.

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