>> Walmart's big Indian acquisition is proving complicated. The boss of online retailer Flipkart leaving the company after sexual assault accusations. Binny Bansal is going just months after Walmart paid $16 billion for a majority stake in the company. His departure now raises questions about the future of the business.
Reuters' Una Galani is in Mumbai. Shes says Bansal's absence could actually be a plus for Walmart.>> Binny Bansal's exit may be a blessing in disguise. He really helped to build this company up over the past decade into the country's biggest e-commerce player. But over the last few years, the management of this company has been a game of musical chairs.
And in the end, his role was mostly a symbolic one. With such a large personality out of the way, Walmart will now be able to focus on the task in hand, and that is maintaining its narrow lead over Amazon in a cutthroat market.>> The e-commerce company's co-founder has strongly denied the allegations.
Walmart says its own investigation found no evidence to support the assault claim, though it said Bansal was guilty of unspecified lapses of judgment. He remains a shareholder in Flipkart, which began life as an online book store run out of a small apartment in Bengalaru. It grew to become India's most valuable tech startup.
Walmart will hope it still has a big future ahead.