 "Flipkart")
Flipkart is trying to shed the flab that it has accumulated in the form of step-down subsidiaries, ahead of the Indian e-commerce firm’s proposed acquisition by US retail giant Walmart.
According to a source close to the development, businesses with similar functions would be merged to form one entity. This, the source said, was being done so that the new parent company would not have to spend on multiple companies for the same purpose.
Walmart wants to pick up a controlling stake in the Bengaluru-based firm, valuing it at around $18-20 billion.
Flipkart Digital Media Private Limited
According to a source close to the development, businesses with similar functions would be merged to form one entity. This, the source said, was being done so that the new parent company would not have to spend on multiple companies for the same purpose.
Walmart wants to pick up a controlling stake in the Bengaluru-based firm, valuing it at around $18-20 billion.
Flipkart Digital Media Private Limited
