Walmart has paid $1.4B to buy out a large investor in Flipkart, further cementing its control of the Indian e-commerce giant, The Wall Street Journal’s Peter Rudegeair reports. In recent days, Walmart bought the remaining shares of Flipkart owned by Tiger Global, according to a letter the New York hedge-fund sent to its investors that was reviewed by The Wall Street Journal. The transaction valued Flipkart at $35B, down from nearly $38B when it sold shares to Japan’s SoftBank (SFBTY), Walmart (WMT) and other investors in 2021, the author notes.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SFTBY:
- Opening Day: Blockchain company Earlyworks debuts on Nasdaq
- Symbotic price target raised to $48 from $35 at Craig-Hallum
- More Hiccups in SoftBank’s Deal to Sell Fortress to Mubadala
- SoftBank, Symbotic establish GreenBox Systems JV and announce $7.5B contract
- Opening Day: Beauty brand owner Oddity soars in debut