After much speculation – and a fair amount of “will they, won’t they” – it looks like the deal is done: Walmart will be the majority owner of Indian eCommerce up-and-comer Flipkart, with a 77 percent stake.
All it will cost them is a cool $16 billion.
The news broke early Wednesday – possibly a bit earlier than either company would have preferred, as SoftBank CEO Masayoshi Son accidentally let the cat out of the bag during his firm’s earnings presentation.
“Walmart is purchasing Flipkart,” Son said in the presentation (he spoke in Japanese with a real-time translation provided by a SoftBank representative). “Last night there was the official announcement.”
Featured News
UK Probes Lindab’s Acquisition of HAS-Vent Amid Fears of Market Monopoly
Apr 28, 2024 by
CPI
Shein Faces EU Regulations Over User Data
Apr 28, 2024 by
CPI
Google Fights Back Against US Antitrust Lawsuit
Apr 28, 2024 by
CPI
US Homeland Security Establishes Blue-Ribbon Board with Tech CEOs to Advise on AI
Apr 28, 2024 by
CPI
FTC Accuses Amazon Executives of Using Disappearing Messaging Apps to Conceal Evidence
Apr 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI