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Current Affairs 2018 English: Walmart acquires Flipkart (May 3rd week)

May 21, 2018 09:43 IST

Walmart, one of the world’s largest multinational retailers acquired Indian e-commerce platform Flipkart in a $16 billion deal on May 9, 2018. The deal is expected to benefit both Flipkart and Walmart. While Flipkart will be benefitted by Walmart’s retail expertise, grocery and general merchandise supply-chain knowledge and financial strength, Flipkart’s localised service, customer insights and innovative culture will benefit Walmart across the globe.Despite the acquisition, the two companies will continue to maintain distinct brands and operating structures.

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