Walmart’s plans to buy a majority stake in Indian e-commerce platform Flipkart have been subjected to an agreement being reached with eBay first.
Flipkart earlier successfully completed its merger with eBay which was announced on April 10, 2017. Due to this merger, despite getting control of Flipkart, Walmart may not be able to consummate actual merchandise deals with Flipkart once it invests in it according to Recode.
Commenting on the deal announcement then, Devin Wenig, president and chief executive officer of eBay Inc said: “The combination of eBay’s position as a leading global eCommerce company and Read full story ›
Source: The Drum
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