India’s antitrust regulator has approved Walmart’s $16-billion purchase of Flipkart, despite protests from traders across the country over fears that the deal would drive several small retailers out of business. On...
Ecommerce
Big payday ahead for investors as CCI approves Walmart-Flipkart deal
Clearing the way for global retail giant Walmart to enter India’s e-commerce market, the Competition Commission of India (CCI) has approved its $16 billion deal to buy a 77 per cent stake in Flipkart. “CCI India...
Alibaba to buy minority stake in Focus Media to tap digital marketing
Chinese e-commerce giant Alibaba Group Holding Ltd (BABA.N) on Wednesday said it has agreed to acquire a minority stake in China’s Focus Media Information Technology Co Ltd (002027.SZ) to tap into the digital marketing...
Amazon to enter drug business, to buy online pharmacy PillPack for $1 bn
Amazon.com Inc said on Thursday it would buy small online pharmacy PillPack, a move that will put the world’s biggest retailer in direct competition with drugstore chains, drug distributors and pharmacy benefit...
Walmart kickstarts mega fundraising to finance Flipkart deal
Walmart Inc. is selling bonds to help finance its acquisition in India’s biggest e-commerce firm Flipkart, stuffing the US investment grade market with another jumbo deal just two days after the second-largest of the...
Google to invest $550 million in Chinese e-commerce giant JD.com
Google will invest $550 million in Chinese e-commerce powerhouse JD.com, part of the U.S. internet giant’s efforts to expand its presence in fast-growing Asian markets and battle rivals including Amazon.com. The two...
Walmart expects to close 77% Flipkart stake sale by the end of 2018
Walmart, the US retail giant which signed an agreement in May this year to acquire 77 per cent stake in Flipkart, expects to close the deal before the end of current calendar year. According to a regulatory filing...
Domestic retail bodies seek Flipkart-Walmart deal probe
Domestic retail bodies that claim the Flipkart-Walmart deal represents a backdoor entry by multinational giants into India’s retail space, are now pushing for the Enforcement Directorate (ED) to initiate an official...
Softbank to sell ‘entire stake’ in Flipkart to Walmart for about $4 billion
Japan’s SoftBank has decided to sell its over 20 per cent stake in e-commerce major Flipkart to US retailer Walmart for an estimated $4 billion. “SoftBank confirms the sale of its entire stake in Flipkart to...
Adobe to buy Magento Commerce for $1.68 billion
Adobe Systems Inc said on Monday it would buy e-commerce services provider Magento Commerce from private equity firm Permira for $1.68 billion in cash, its biggest deal in nearly a decade. Shares of Adobe rose about 1...
Google still searching for an answer on Flipkart minority stake buy
Still considering the pros and cons of buying into the most-valued online marketplace in India, Alphabet Inc, the holding company that owns tech giant Google, has not yet decided on whether to acquire a minority stake...
Investors may force Walmart to bring Flipkart IPO within next four years
Walmart Inc, the world’s largest retailer, could be forced to publicly list its newly acquired Indian e-commerce company, Flipkart Group, within four years at the request of a small minority of Flipkart shareholders, a...
