Walmart to close Flipkart acquisition by June end: Reports

Walmart is expected to close its acquisition deal with Indian e-commerce giant Flipkart to close by the end of June 2018, say reports. The US-based giant retailer has reportedly offered a proposal to buy the stake for $10-12 billion and completed the due diligence. A report by Reuters said the retailer will buy both new and existing shares of Flip kart, which will have its new shares valued likely at at least $18 billion.