E-commerce firm Flipkart buys Walmart's India wholesale business

Reuters

23 July, 2020, 01:15 pm

Last modified: 23 July, 2020, 01:17 pm

E-commerce firm Flipkart buys Walmart's India wholesale business

Financial terms for the deal were not disclosed

Reuters

23 July, 2020, 01:15 pm

Last modified: 23 July, 2020, 01:17 pm

The logo of Flipkart is seen on the company's office in Bengaluru, India, May 9, 2018. REUTERS/Abhishek N. Chinnappa

Walmart-owned (WMT.N) Flipkart will buy the US retail giant's Indian cash-and-carry wholesale business as the e-commerce firm looks to strengthen its offerings for mom-and-pop stores, the company said on Thursday.

Flipkart, majority-owned by Walmart Inc, also announced the launch of Flipkart Wholesale as part of the deal.

Financial terms for the deal were not disclosed.

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