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Flipkart co-founder Binny Bansal sells stake to Tencent amidst border tensions with China

June 13, 2022
Source: newsondot.com newsondot.com
News Snapshot:
Flipkart Co-founder Binny Bansal has sold his stake worth $264 million (more than Rs 2,000 crore) in the homegrown e-commerce platform to Chinese Internet giant Tencent, at a time when the neighbouring country has once again hardened its positions along the Indian border. The news about Bansal selling Flipkart stock to Tencent came at a time when US Secretary of Defense, Lloyd Austin, said on Saturday that China is hardening its positions along the Indian border. Addressing the Shangri-La Dialogue in Singapore, Austin said that China is taking aggressive and illegal approaches to the territories it claims in the South...
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