Walmart (WMT) to AA/Negative from AA/Stable at S&P
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Walmart buys controlling stake in India's Flipkart for $16 billion
May 9, 2018 7:09 AM EDT(Reuters) - 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 in one of the world's biggest emerging markets.
The remainder of the... More
Walmart (WMT) Announces $16 Billion Investment in India's Flipkart Group
May 9, 2018 7:06 AM EDTWalmart Inc. (NYSE: WMT) announced it has signed definitive agreements to become the largest shareholder in Flipkart Group. The investment will help accelerate Flipkart's customer-focused mission to transform commerce in India through technology and underscores Walmarts commitment to sustained job creation and investment in India, one of the largest and fastest-growing economies in the world.
Subject to regulatory approval in India, Walmart will pay approximately $16 billion for an initial stake of approximately 77 percent in Flipkart, formally Flipkart Private Limited. The remainder of the business will be held by some of Flipkarts existing... More
