Walmart expects to close Flipkart deal by the end of 2018
Walmart Inc President, CEO and Director, Douglas McMillon, said they were learning about retail ecosystems and how they work around the world. "We're learning a lot from China. We'll be learning even more from India. And we basically want to be in places that have a tremendous opportunity, which is what led us to Flipkart in India," he said in response to a query.
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. Image source: Reuters