Flipkart, an online retail company often described as India’s Amazon, announced today that it has acquired fellow e-commerce operator Myntra, which specializes in fashion and casual lifestyle products. Financial terms of the deal weren’t disclosed but Reuters has_said the deal is worth about $300 million. The deal is huge though, primarily because it combines two rivals into a bigger e-commerce player in India. It comes likely in response to Amazon increasingly becoming a competitor to watch out for in India. The US e-commerce juggernaut quietly moved into the Indian market last June. It started out selling books only, but now...

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