Walmart Inc said in a filing with a U.S. regulator that it may take India’s Flipkart public in as early as four years, detailing for the first time a potential listing timeline for Walmart’s largest-ever acquisition.
Walmart’s deal with Flipkart to acquire 77 per cent stake in the Indian e-commerce website is facing opposition from traders, while industry body ASSOCHAM has termed it as a success of Indian start-ups.
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.
It looks like times were tough for Japanese sports giant Asics during Q1 as the company’s consolidated net sales and profits were down. But at least the percentage profits fall was less than the sales drop.
Times are tough at Denmark’s IC Group with the Tiger of Sweden and By Malene Birger owner reporting weak sales. And while consolidated operating profits are rising, gross profit is down and it faces huge challenges.
Walmart is likely to reach a deal to buy a majority stake in e-commerce player Flipkart by the end of June in what could be the U.S. retail giant's biggest acquisition of an online business, according to two sources.