WalMart, the once-stodgy bricks and mortar retailer, made news today with its largest acquisition ever – $15B US for 75% of eCommerce retailer Flipkart in India.
It reportedly beat out Amazon for the deal.
WalMart shares dropped 3% on the news.
Amazon’s shares rose 1%.
Softbank appears to have done very well. Other players were involved including Alphabet, Microsoft, Tencent Holdings and Naspers.
The deal hasn’t fully closed yet….
More from Bloomberg here.