A Walmart spokesperson confirmed to Reuters on Monday that the company bought additional Flipkart shares from some investors, including Tiger Global, but declined to share any financial details. The U.S. retailer bought a 77% stake in Flipkart for about $16 billion in 2018, its biggest investment. It was not immediately clear what Walmart's stake was after the purchase. The sale of Accel's stake in Flipkart was reported by the Economic Times newspaper. Accel and Tiger Global did not immediately respond to requests for comment.

Source: Wall Street Journal July 31, 2023 11:14 UTC