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Flipkart CEO refutes Morgan Stanley report on Walmart's exit: report

Flipkart on Tuesday strongly denied the claim of a Morgan Stanley report which said that Walmart may exit its investment in Flipkart and the Indian e-commerce market due to the negative impact of new FDI rules that came into force on February 1. Flipkart CEO Kalyan Krishnamurthy in his email to company employees said that Walmart remains extremely confident about the potential of the Indian market and in Flipkart’s ability to lead the e-commerce space. Morgan Stanley in its report had speculated that Walmart may look to exit Flipkart if it does not see a long term path to profitability.

Read More at Business Standard News date : 6 Feb 2019, Wednesday

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