| SaltWire(Reuters) -Walmart has taken further control of the Indian e-commerce firm Flipkart by buying out hedge fund Tiger Global and venture capital firm Accel's remaining stakes, according to media reports on Monday. 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. It was not immediately clear what Walmart's stake was after the purchase. In its most recent quarter ended April 30, Flipkart generated double-digit sales growth, boosted by new shoppers in some cities and a 50% jump in ad sales, Walmart said. Accel and Tiger Global did not immediately respond to requests for comment.

Source: Wall Street Journal July 30, 2023 23:11 UTC