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

BENGALURU (Reuters) – Walmart-owned 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)