Fidelity marks down India's Flipkart
A mutual fund managed by Fidelity has cut the valuation of its shares in India e-commerce giant Flipkart – which faces a concerted challenge from Amazon – by 36.1%, falling in line with a Morgan Stanley valuation issued last December.
The semi-annual report for Fidelity’s Strategic Advisers Value Fund disclosed that Flipkart was worth $52.13 per share in November, down from $81.55 three months earlier. In August 2015, the fund valued...
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