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Walmart open to more acquisitions in China, India, CEO says

Walmart Inc. still has work to do integrating Indian retailer Flipkart Online Services Pvt. Ltd., but the Arkansas-based company is still open to deals in the developing world, the retail giant's CEO said Oct. 16.

Speaking to analysts during a presentation near the retailer's headquarters in Bentonville, Ark., President, CEO and Director Douglas McMillon said Walmart would weigh deals that expand its capabilities in India and China.

"If something came up, we'd consider it," McMillon told analysts.

India has been a focus for Walmart since the company announced its plans to buy Flipkart in May. While the purchase is weighing on Walmart's earnings outlook, analysts have said that the deal will give the retailer a position in another fast-growing e-commerce market.

While Walmart will likely need years to turn a profit from its acquisition of Flipkart, McMillon told analysts that the company would be open to another deal.

Walmart has also made recent investments in China, where it has had a presence since the mid-1990s. In early 2018, Walmart opened a small-footprint supermarket in the country, offering online ordering and delivery options similar to Alibaba Group Holding Ltd.'s Hema stores.

The company has also invested in Dada-JD Daojia, a delivery service partially owned by Chinese online retailer Inc.