Walmart, the world's largest company, on the basis of revenues, has bought Indian e-retail giant Flipkart. This deal was decided by both companies at $ 16 billion (1,07200 million). Founder of Flipkart, Sachin Bansal has resigned from his post in the company.
According to the agreement, Walmart has taken a 77 percent stake in Flipkart. This is the biggest deal in India's history of e-commerce. After doing this deal, Walmart will become the largest multinational company working in India.
Note:
- CEO of Walmart: Doug McMillon
- Owner of Walmart: Walton family
- Founder of Walmart: Sam Walton
Published On : 10 May 2018