Walmart buys controlling stake in India's Flipkart for $16 billion

(Reuters) - 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 in one of the world's biggest emerging markets.

Walmart buys controlling stake in India's Flipkart for $16 billion
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