Walmart's Flipkart Eyes SPAC Listing in U.S. for IPO

Indian online retailer Flipkart is considering going public in the U.S. by merging with a special purpose acquisition company (SPAC), according to a Bloomberg report.

Walmart (NYSE: WMT), which owns more than three-quarters of the e-commerce company, said in a statement, "We have been clear that we support an IPO for Flipkart, but we have not made any decisions on timing, listing venue, or methodology."

Flipkart is reportedly seeking a valuation of around $35 billion.

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Source Fool.com