giftedviz.com
giftedviz.com November 20, 2018


Walmart, Flipkart seal $16 bn e-commerce deal

15 May 2018, 10:55 | Megan Pierce

Walmart, Flipkart seal $16 bn e-commerce deal

Walmart, Flipkart seal $16 bn e-commerce deal

Tokyo-based SoftBank is evaluating option to pump in about United States dollars 3 billion (about 20,000 crore) in Paytm Mall even as it has not yet finalised selling its stake in rival homegrown ecommerce major Flipkart to Walmart, reports the Economic Times citing two people aware of the matter.

US-based Walmart Inc has signed a deal to buy 77 per cent stake in e-commerce company Flipkart for $16 billion. Here, it is worth mentioning that Flipkart is an Indian e-commerce giant.

Paytm Mall enjoyed a market share of about 5.6 per cent in its first full year of operations while the Flipkart Group, including online fashion retailers Myntra and Jabong, enjoyed a combined market share of 39.1 per cent and Amazon India cornered 31.1 per cent.

Walmart or its units could ask Flipkart to issue new ordinary shares of up to $3 billion before the close of the "transactions and on or before the first anniversary of the closing", it said.

Nanny gets life in prison without parole for killing 2 children
Ortega's lawyer said Ortega suffered from depression and anxiety disorders, and refused to take prescribed medications. When Marina and Nessie returned home , around 5:30 p.m., Marina went to the bathroom, and opened the door.


Ashley 'hopes very much' that Benitez stays at Newcastle
Since he has been here he has transformed the club and city, it would be silly for us not to keep him happy and let him have what he wants.


Fiery cleric Sadr taps anger over Iran to lead Iraq poll
Analysts say he also benefited from his ability to command a fiercely loyal base in an election that saw historically low turnout. Election officials Sunday night released results for ten of Iraq's 19 provinces, accounting for more than half the vote.


Many pundits believe that Walmart has paid too much for Flipkart. According to the market research firm, Forrester, India's online retail sales amount to $27 billion and are projected to grow at a compound annual growth rate of close to 29 per cent between 2017 and 2022. "We protested when Walmart and Bharti Enterprises announced a tie-up and ensured that they did not set up shop in Tamil Nadu and now Walmart is trying a similar initiative", said S. Murugesan, a wholesale trader in Broadway. Walmart founder Sam Walton's grandson, Steuart Walton, is reportedly likely to join Flipkart's board of directors.

"In the Walmart-Flipkart deal, Section 9 (1) will apply as the assets of Flipkart Singapore are substantially based in India and hence the sellers would be liable to pay capital gains tax", Titus and Company Managing Partner Diljeet Titus opined.

The Arkansas-headquartered company will also have the final word on the appointment or removal of the top executives at Flipkart and its group companies, PhonePe and eKart.

Walmart (WMT) could be forced to take its latest acquisition public in four years, according to a recent SEC filing that gives investors an idea of what might be in store for Indian e-commerce heavyweight Flipkart. In 2015, the company's then CFO Sanjay Baweja had said Flipkart had no plans to list on stock exchanges for at least two years because the company was not prepared to face the scrutiny that listed companies are subjected to. Now, that decision rests in the hands of its new owner, Walmart.



Other News

Trending Now

The Science Behind Hawaii's Surprising 2018 Volcanic Eruption
This mesmerising video was shot at the 17th fissure to open up on the island, located near Pahoa. Plant workers last week removed 50,000 gallons of pentane stored at the site as a precaution.

Reid treated for pancreatic cancer
The former Senate Democratic leader declined to seek re-election in 2016 after more than three decades in Congress. Secretary of State John Kerry during a lecture series at the University of Nevada, Reno, Tuesday, April 3, 2018.

82 women walk the red carpet in Cannes film fest protest
Its key commitments include the compilation of statistics to record the gender of the filmmakers and key crew of all submissions. Cannes has been criticized over the years for the gender imbalance in films selected for screening at the festival.

Iran Oil Exports to Asia Rush Ahead of Impending Sanctions
Security Council's five permanent members] countries to abandon the deal and reimpose sanctions on Iran ". Senator John Boozman also supports the President's decision to exit the Iran nuclear agreement.

Alia's Raazi continues to win hearts, woo box office
With no big release scheduled for the next week, I am sure Raazi will continue to march on in the coming days. Raazi saw a minimal drop on its Monday as compared to its opening day which is only 16.33 percent.

Fulham take a step closer to EPL promotion
Aleksandar Mitrovic says that he was "so proud and so happy" after helping Fulham reach the Championship playoff final. But well done to the boys. "They were two very, very poor goals for us to give away".

2 die in Aurangabad clashes
On Friday, clashes ensued between 2 groups after illegal water connection to a "religious place" was reportedly disconnected. Tension escalated in the nearby areas of Gandhinagar, Moti Karanja and Rosa Bagh as well.

U.S. ready to offer security assurances to DPRK: Pompeo
South Korea has said Kim has shown an interest in dealing away his nuclear weapons in return for economic benefits. The plane arrived from Alaska, where it had stopped Wednesday after leaving North Korea.

Madrid Open: Zverev claims title with crushing win over Thiem
The same feeling is true for Zverev, who has a chance to become the fifth active player with three Masters 1000 championships. It was Zverev's second win in six meetings with Thiem. "If I had played normal I would have no chance", Thiem said.

Robert Jeffress: Thank God for Donald J
Jeffress, who serves on the White House's Evangelical Advisory Board, is one of Donald Trump's most prominent faith advisers . Jeffress told Starnes, "I think it's just sad that he is that bitter, I guess, over the 2012 election".