eBay to relaunch in India post Flipkart-Walmart big billion deal

Erstwhile US e-commerce giant eBay has said that it will relaunch India business after exiting its investment in the country's largest online retailer Flipkart which on Wednesday announced a $16 billion investment from Walmart.

eBay said it would sell its entire holding in Flipkart which represents $1.1 billion in value to Walmart and exit the Indian firm. The company had ploughed in around $500 million in cash in addition to selling its India unit which was valued at around $500 million to Flipkart in a deal April 2017.

"eBay has notified Flipkart and Walmart that it intends to sell its holdings in