Flipkart a bargain buy for Walmart, says Binny Bansal2 min read . Updated: 19 Sep 2018, 01:29 PM IST
Flipkart Group CEO Binny Bansal refutes claims that Walmart overpaid for Flipkart, insisting that the US retailer hasd in fact made a long-term bet on India that would pay off over the next 5-10 years
Bengaluru: Months after Walmart forked out $16 billion to buy 77% of Flipkart, the Indian e-commerce firm’s group chief executive Binny Bansal said the world’s largest retailer had made a bargain buy. In an interview with San Francisco-based news website Recode on Tuesday, Bansal refuted a claim made earlier that Walmart overpaid for Flipkart and insisted that the US-based retail giant had, in fact, made a long-term bet on India that would pay off over the next five to ten years.
Select your Category