Question
Recently which Chinese tech giant had bought a stake
worth $264 million (about Rs 2,060 crore) in Walmart-owned e-commerce Flipkart?Solution
Chinese tech giant Tencent had bought a stake worth $264 million (about Rs 2,060 crore) in Walmart-owned e-commerce firm Flipkart from its co-founder, Binny Bansal, through its European subsidiary. Flipkart is registered in Singapore and has operations in India only. Binny Bansal now holds about 1.84 per cent in Flipkart after selling part of his stake to Tencent Cloud Europe BV. After this transaction, the Tencent arm holds 0.72 per stake in Flipkart, valued at around $264 million.
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LACONIC
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