Flipkart back to the company for approximately US$1.1 billion, and re-launch its own Indian operations. The company stated that "there is huge growth potential for e-commerce in India and significant opportunity for multiple players to succeed in India's diverse, domestic market." Softbank Group also sold its entire 20% stake to Walmart, without disclosing terms of the sale. The acquisition was completed on 18 August 2018. Walmart also provided US$2 billion in equity funding to the company. On 13 November 2018, Flipkart CEO Binny Bansal resigned, after facing an allegation of "serious personal misconduct". Walmart stated that "while the investigation did not
Zavvi (retailer) had entered into administration, rival HMV's share prices rose, as it left HMV as the only major high street retailer offering the same products. Similarly, the online retailer Play.com announced that its profit had risen by 24% over the Christmas trading period and despite the economic downturn, sales of entertainment products overall in the industry rose by 0.7% in the fourth quarter in comparison to sales of the same period in 2007. On 13 January 2009, the video games retailer Game attributed the rise in profits to the loss of competition of Zavvi and Woolworths. Chief executive Lisa Morgan said