WALMART TAKES CONTROL OF FLIPKART

Walmart on Wednesday announced that it reached a $16 billion deal to buy a majority stake in Flipkart, India’s leading e-commerce platform, reports The New York Times.

The deal, struck 19 months after talks began, is expected to plunge America’s largest operator of physical retail stores into direct competition with Amazon. While Flipkart is currently the market leader in India, Amazon’s relatively new India site is quickly closing the gap.

Would be interesting to rather see how the competition churns out!