Indian e-commerce giant Flipkart has approved an agreement to sell around 75% stake to a group led by Walmart for around USD 15 billion, according to a report by Bloomberg.

US retail giant was in talks with Flipkart for around a year to acquire a controlling stake in the firm as it looks to take on rival Amazon.com Inc head-on in India, a market where e-commerce is tipped to grow to $200 billion in a decade.

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