hp for ($i=0; $i]+>!is", "", $news['Contains'][$i]['Body']); ?>

Walmart Presses Checkout Button For 77% Stake In India's Flipkart

Walmart Presses Checkout Button For 77% Stake In India's Flipkart

Walmart Presses Checkout Button For 77% Stake In India's Flipkart

The acquisition of the majority stake makes the $500-billion Walmart the largest shareholder of the Bengluru-based Flipkart group and will help accelerate its ambition to transform e-commerce through digital technology. This deal means that the war on pricing and discounting is set to continue.

It was valued at close to United States dollars 21 billion as Walmart yesterday bought 77 per cent stake in it for USD 16 billion.

E-commerce is getting increasingly competitive in the U.S., and Morgan Stanley analyst Simeon Gutman thinks Walmart should be investing more in the United States. There will be an uneven level playing field to the disadvantage of retail traders. Good because it proves that India is open for business, but bad because it proves that few Indian online companies will manage to keep control of their own destinies.

Given India's population of 1.3 billion and rapidly growing middle class, most signs point to burgeoning e-commerce growth, and other e-tailers have recognized this potential.

Asked specifically if an appointment with Prime Minister was indeed sought, he said Walmart is not new to the country. Walmart Inc.is an American Multinational retail corporation which is world's largest company in terms of Revenue. Then, the e-commerce company launched logistics arm Ekart.

Walmart, in collaboration with Flipkart will support small businesses and "Make In India" through direct procurement as well as increased opportunities for exports through global sourcing and e-commerce.

Sergio Ramos Says Lionel Messi Pressured Referee at Halftime of El Clasico
However, Zidane has stated that the Reds are likely to see Ronaldo in the Madrid side, with the ankle injury only a minor ailment. Bale curled in a lovely left-footed shot near the end to justify his inclusion in the line-up and seal an entertaining 2-2 draw.

Man Eats 30000th Big Mac, Setting New World Record
A man in Wisconsin has consumed his 30,000 McDonald's Big Mac burger after eating two a day for more than four decades. In fact, when Gorske ate his 20,000th Big Mac on July 19, 2004, he told us thirty thousand "isn't that far off".

Navalny out of jail after opposing Putin's inauguration
Putin is to be inaugurated for a new six-year term on Monday after winning re-election in March with 77 per cent of the vote. This time Putin will instead meet with volunteers who took part in his election campaign, the television channel said.

"This shows that worldwide companies have faith in the Indian market and they are looking for opportunities to invest", Aditya Manya, vice chairman and president of investment firm Kalpataru Multiplier Ltd., told Anadolu Agency. The deal between Walmart and Flipkart would be applicable for withholding tax and capital gains tax.

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, which has served as outside counsel to Flipkart since 2011, including advising the company a year ago on a $2.5 billion investment from Japan's SoftBank Group Corp.'s Vision Fund, is serving as lead M&A and global counsel to the company on its proposed sale to Walmart.

Walmart entered the Indian market in 2007 through a joint venture with a local company, years before Amazon debuted there.

The factor daily report quotes that, "With the cash component to be close to 55% it will cause the exit of some of the investors in Flipkart".

Interestingly, the co-founder and former CEO Sachin's name was not mentioned anywhere on the official statement released by the global retail chain brand. Accel put $8 lakh into the company in 2008, the first major check that Flipkar would receive.

Jaideep Hansraj, CEO, wealth management and priority banking at Kotak Mahindra Bank, said that while the allocation of funds will depend on the investment profile of the individuals and their risk appetite, the equity allocation should ideally be 100 minus the person's age; lower the age, higher the equity allocation.

Related news