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Walmart's Flipkart Acquisition Gets Rude Welcome From Market
Walmart shares fell as much as 4.2% in New York on Wednesday S&P lowered Walmart's outlook to negative from stable Walmart stock was already down 13% this year through Tuesday's close
09 May 2018, 11:10 PM IST 
Walmart's deal to buy a stake in Flipkart is meeting skepticism on Wall Street
Walmart's deal to buy a controlling stake in India's biggest online seller is meeting skepticism on Wall Street. The world's largest retailer will acquire a 77 percent holding in Flipkart Group for $16 billion, the companies said earlier Wednesday. Flipkart co-founder Binny Bansal and other shareholders will hold the remainder. The tie-up values the Indian e-commerce giant at about $20.8 billion and marks a blow against rival Amazon....
