The USA based Walmart is planning to sell 25% to the Indian online retailer Flipkart. Flipkart is next in line and competing with Amazon as well as Reliance developed JioMart. Walmart is wanting to seize the opportunity amidst the pandemic since this virus has forced people to stay indoors, therefore surging the demand of e-commerce companies. Walmart currently holds about 82.3% stake in Flipkart. Flipkart developed digital payment platform PhonePe is also likely to expand drastically during the coming years.
Walmart plans on making Flipkart public.
Walmart likely to sell $10 billion Flipkart unit, plans for IPO
