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

MUMBAI/NEW YORK (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 as it battles rival Amazon.com Inc in one of the world's biggest emerging markets.

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