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Walmart close to buying majority of Indian firm

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Walmart Inc. is nearing a deal to purchase a majority stake in Indian e-commerce firm Flipkart, sources familiar with the matter told Reuters.

The sources said Walmart may close on the deal by the end of June.

Reuters previously reported Walmart made a $10 billion to $12 billion proposal for 51 percent or more of Flipkart.

Read more from Reuters.

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