Flipkart, PhonePe Complete Separation, Both Entities to Continue Operation Under Walmart
Flipkart and PhonePe have completed their separation and both entities will continue to operate under US-based retail giant Walmart, a joint statement said on Friday. PhonePe was acquired by Flipkart Group in 2016."As part of this transaction, existing Flipkart Singapore and PhonePe Singapore shareholders, led by Walmart, have purchased shares directly in PhonePe India. This completes the move to make PhonePe a fully India domiciled company, a process that started earlier this year," the statement said.Walmart will remain…