Walmart pays $1.4 billion to boost Flipkart stake

Walmart has paid $1.4 billion to buy out hedge fund Tiger Global’s investment in e-commerce firm Flipkart, the Wall Street Journal reported on Sunday, citing a letter by the hedge-fund to its investors.

The transaction brings the value of the e-commerce firm to $35 billion from nearly $38 billion after it sold its shares to Japan’s SoftBank, US retailer Walmart and other investors in 2021, the report said.

Walmart, Flipkart and Tiger Global did not immediately respond to Reuters’ request for comment.