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Walmart-Flipkart deal: from wishlist to cart

U.S. retail giant Walmart Inc. is set to acquire approximately 77% stake in homegrown e-commerce company Flipkart by paying $16 billion. A move that is expected to redefine the country's e-commerce space, is, perhaps, the single biggest effort by Walmart to take on arch rival Amazon.

While one of Flipkart's founders, Sachin Bansal, will bid adieu to the firm, some of existing shareholders, including co-founder Binny Bansal, Tencent Holdings Limited, Tiger Global Management LLC and Microsoft Corp will continue to be part of the company.

Interestingly, Amazon too made an offer to acquire its rival. But Flipkart opted for Walmart.

This photo taken on May 9, 2018 shows Walmart CEO Doug McMillon (R) speaking next to Flipkart co-founder and CEO Binny Bansal at an event in Bangalore, as a deal was announced for Walmart to buy a stake in Flipkart.

This photo taken on May 9, 2018 shows Walmart CEO Doug McMillon (R) speaking next to Flipkart co-founder and CEO Binny Bansal at an event in Bangalore, as a deal was announced for Walmart to buy a stake in Flipkart.  

 

Here is all you need to know about the deal.

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