July 23, 2020 / 6:48 AM / 14 days ago

E-commerce firm Flipkart buys Walmart's India wholesale business

FILE PHOTO: The logo of India's e-commerce firm Flipkart is seen in this illustration picture taken January 29, 2019. REUTERS/Danish Siddiqui/Illustration

BENGALURU (Reuters) - Walmart-owned (WMT.N) Flipkart will buy the U.S. retail giant’s Indian cash-and-carry wholesale business as the e-commerce firm looks to strengthen its offerings for mom-and-pop stores, the company said on Thursday.

Flipkart, majority-owned by Walmart Inc, also announced the launch of Flipkart Wholesale as part of the deal.

Financial terms for the deal were not disclosed.

Reporting by Sachin Ravikumar; Editing by Krishna Chandra Eluri

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