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Flipkart-Walmart Deal: 5 Things To Know

Walmart will pay $16 billion for a roughly 77 percent stake in Indian e-commerce firm Flipkart. It is the largest-ever deal by the U.S. retailer's as it competes with Amazon in an important growth market.

The first online store of Walmart was opened in 2009 and the sourcing office was established four years earlier in India. Since then 21 cash and carry stores under the ‘Best Price’ brand have already been established and 5 to 7 more are being added by the end of this year.