Walmart completes its $16 billion acquisition of India’s Flipkart

The company announced over the weekend that it has completed its investment in Flipkart, making Walmart the largest shareholder in India’s e-commerce giant. The deal was originally revealed in May by Masayoshi Son, the CEO of Japan’s SoftBank, which through its Vision Fund invested $2.5 billion in Flipkart. Walmart now owns 77% of Flipkart and with it now has a massive retail foothold in one of the largest retail markets on the planet with more than 1.3 billion people.