Walmart Inc said in a filing with a U.S. regulator that it may take India’s Flipkart public in as early as four years, detailing for the first time a potential listing timeline for Walmart’s largest-ever acquisition.
Walmart Inc has agreed to pay $16 billion for a roughly 77 percent stake in Indian online shopping site Flipkart, the U.S. retailer’s biggest foreign investment ever as it battles rival Amazon.com Inc.
Walmart is likely to reach a deal to buy a majority stake in e-commerce player Flipkart by the end of June in what could be the U.S. retail giant's biggest acquisition of an online business, according to two sources.
India's top e-commerce firm Flipkart has raised $1.4 billion in its biggest fundraising to date as it takes on U.S. tech giant Amazon.com Inc for a larger share of the country's burgeoning online retail market.
India's leading e-commerce company Flipkart has named a new chief executive in a restructuring that moves its current CEO into a strategic role to counter competition from rivals such as Amazon's Indian operation.