HomeNewsbusinessTencent buys Rs 2060-crore stake in Flipkart

Tencent buys Rs 2060-crore stake in Flipkart

Tencent buys Rs 2060-crore stake in Flipkart – Chinese technology major Tencent bought a stake worth $264 million (Rs 2,060 crore) in Walmart-owned Flipkart from co-founder Binny Bansal, through its European subsidiary.

  • After selling his stake to Tencent Cloud Europe BV, Binny Bansal is holding around a 1.84% stake in Flipkart.
  • After the transaction, Tencent’s arm holds a 0.72% stake in Flipkart, which is valued at around $264 million.

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