Tencent invests $62.8M in Flipkart amid anti-China sentiments

Tencent has pumped $62.8M into Flipkart’s $1.2B investment round and now owns a 4-5.3 per cent stake in Flipkart Pte – Flipkart’s Singapore based holding company. Though it is a minority stake, the investment is significant as Flipkart is the most valued internet company in India. Since April, the GOI has taken multiple steps to limit China’s exposure to Indian businesses; revising its Foreign Direct Investment (FDI) regulations as well as banning Chinese apps.

Click here to read the full story

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s