Walmart has at last acquired Flipkart in a deal which is being valued around $18bn-20bn.
According to Reuters, this is Walmart's biggest ever acquisition deal. The news of the deal was confirmed by Masayoshi Son, chief executive officer (CEO) of SoftBank according to NDTV.
Japan’s SoftBank is the largest investor in Flipkart with around a 25% stake.
The news comes after Google's parent company Alphabet was reported to join forces with Walmart in India to aid Walmart's efforts to buy a majority stake in Flipkart for around $12bn.