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CCI clears acquisition of Flipkart by Walmart

Friday, 10 Aug 2018
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The Competition Commission of India (CCI) has given its nod for acquisition of Flipkart by US-based Walmart.

In May 2018, Walmart had acquired 77 percent in Flipkart in lieu of USD 16 billion. Once the deal is complete, the Indian e-commerce firm will be valued at USD 20.8 billion.

Walmart will hire 1,000 professionals for handling the technical aspect of its venture in India.

 
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