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



Walmart Inc. agreed to pay $16 billion for a roughly 77 percent stake in Indian online marketplace Flipkart, the U.S. retailer’s largest deal as it opens up another front to battle rival Amazon.com Inc in one of the world’s fledgling e-commerce markets. The deal, capping almost two years of on and off talks, will help the Bentonville, Arkansas-based retailer fortify and boost market share against Amazon.com, which also expressed interest in making a competing offer for a stake.

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