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Flipkart, PhonePe have room for other investors: Walmart CEO

Walmart Inc’s Indian e-commerce firm Flipkart and digital payments business PhonePe have room for other investors and could raise money in several ways including stock market listings, the US retail giant’s CEO said on Thursday. Walmart, the world’s biggest retailer by sales, bought about 77% of home-grown Flipkart for roughly $16 billion in 2018, the biggest deal in India’s e-commerce sector where it competes with US rival Amazon.com Inc’s local business.

News source ~ Times of India