- CNBC, Wednesday, May 9, 2018 11:11 PM
Walmart is shelling out $16 billion for a majority stake in Indian e-commerce giant Flipkart. For the retail giant, “Its long-term aim would be to support Flipkart’s transition into a
publicly-listed subsidiary,” CNBC notes. “The retailer said it expects India’s e-commerce market to grow at four times the rate of the overall retail industry.”
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