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Report: Walmart beats Amazon in Flipkart battle

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Walmart Inc. beat Amazon in a battle to purchase a majority of India's Flipkart, people familiar with the matter told Bloomberg.

The Flipkart board reportedly approved a Walmart-led group's $15 billion bid to buy 75 percent of the e-commerce company.

Google parent company Alphabet Inc. is likely to participate in the investment with Walmart, one of the sources said.

Read more from Bloomberg.

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