• The Wall Street Journal reports that Walmart has written A $1.4 billion check to buy out Tiger Global's ownership stake in Flipkart, the Indian e-commerce company. The transaction values Flipkart at about $35 billion, and increases Walmart's ownership in the company at more than 75 percent.
The Journal points out that the move by Walmart actually is contrary to its recent tendencies to reduce its global footprint: "Walmart earns the majority of its revenue and profit from its U.S. business and has pared down other international operations in recent years, selling off much of its stake in U.K. retailer Asda and its operations in Brazil, Japan and Argentina."
