E-commerce firm Flipkart buys Walmart's India wholesale business
Financial terms for the deal were not disclosed
The logo of Flipkart is seen on the company's office in Bengaluru, India, May 9, 2018. REUTERS/Abhishek N. Chinnappa
Walmart-owned (WMT.N) Flipkart will buy the US retail giant's Indian cash-and-carry wholesale business as the e-commerce firm looks to strengthen its offerings for mom-and-pop stores, the company said on Thursday.
Flipkart, majority-owned by Walmart Inc, also announced the launch of Flipkart Wholesale as part of the deal.
Financial terms for the deal were not disclosed.
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