India's largest and popular retailer Flipkart is planning to sell most of the shares to another giant Walmart. Walmart is planning to buy more than 70 % shares from Flipkart. Final and official agreement is not yet signed.
Walmart taken this step to get strong platform and compete another biggest retailer in India which Amazon. Major investors of Flipkart is are
Walmart taken this step to get strong platform and compete another biggest retailer in India which Amazon. Major investors of Flipkart is are
- Tiger Global
- China's Tencent
They are fine about this agreement. As of now Krishnamurthy is CEO of flipkart and he going to be continued in the position even after taken over.
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