CURRENT AFFAIRS

Detailed explanation-1: -Walmart buys India’s most valuable startup, Flipkart in biggest global e-commerce deal. BENGALURU: American retail giant Walmart Inc is picking up a 77% stake in domestic online retailer Flipkart for $16 billion (Rs 1.12 lakh crore) in the largest e-commerce deal ever struck anywhere in the world.

Detailed explanation-2: -Walmart announced over the weekend that it has completed a $16 billion investment in Flipkart that sees it become the majority owner of the Indian e-commerce company. The deal was first revealed back in May and now it has closed after receiving the necessary approvals.