Walmart Inc. spent $ 1.4 billion in recent days to increase its stake in privately-held Indian e-commerce company Flipkart, the Wall Street Journal reported Sunday.
Walmart WMT, +0.47% has bought out Tiger Global’s stake in Flipkart, according to the Journal, citing a letter from the New York hedge fund to its investors. The transaction reportedly valued Flipkart at about $ 35 billion, down a bit from its $ 38 billion valuation in 2021.