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Benzinga
Benzinga
World
Navdeep Yadav

Tencent Buys $264M Stake In Walmart's Indian Unit

Chinese tech conglomerate Tencent Holdings Ltd. (OTC:TCEHY) has bought a $264 million stake in Walmart Inc (NYSE:WMT)-owned Indian e-commerce firm Flipkart, Press Trust of India reported.

The outlet citing official documents said the company bought shares from Indian internet entrepreneur Binny Bansal, Flipkart's co-founder, through its European subsidiary.

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