The Wall Street Journal said Walmart bought the shares from Tiger Global recently, valuing the Indian company at about $35 billion. The U.S. retailer bought a 77% stake in Flipkart for about $16 billion in 2018. The report did not say how much Walmart paid for the stake. A Walmart spokesperson told Reuters on Monday that the company bought additional shares of Flipkart from some investors, including Tiger Global, but did not share any other details. Accel and Tiger Global did not immediately respond to Reuters’ request for comment.

Source: Wall Street Journal August 01, 2023 00:59 UTC