HYDERABAD: The acquisition of
Flipkart by Walmart may negatively impact the net income of the latter this
fiscal and also the next, said Walmart in its recent regulatory filing.
The US retail
giant had last month said it completed the acquisition of 77 per cent stake in
Flipkart Group, an Indian-based eCommerce marketplace, for approximately USD 16
Billion.
"We also
expect the ongoing operations of Flipkart to negatively impact fiscal 2019 and
2020 net income, including additional interest expense due to the long-term
debt issuance in the second quarter of of fiscal 2019," Walmart said.
CLICK HERE for more information
No comments:
Post a Comment