Deals
Bezos, Buffett Bet On a $250 Billion Unclaimed Internet Market
- Walmart completed purchase of majority stake in Flipkart
- India’s online shopping market is still underpenetrated
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India’s long-neglected retail market is turning into one of the world’s hottest thanks to Warren Buffett, Jeff Bezos and a frenzy of billion-dollar dealmaking.
Walmart Inc. just wrapped up a $16 billion agreement for control of the country’s leading e-commerce player, Flipkart Online Services Pvt., while Bezos’ Amazon.com Inc. negotiates deals with a large supermarket chain and an investment in a prominent retail conglomerate, according to local media. This week, Buffett’s Berkshire Hathaway Inc. agreed to acquire a stake in the company behind digital payments leader Paytm.