23-Apr-18, PaymentsSource
Walmart is close to finalizing a deal to buy a majority stake in India's leading e-commerce company for at least USD12 bn. All the major investors in Flipkart are now on board with the Walmart purchase, after an earlier debate over an Amazon.com acquisition.
%20Bloomberg%20News.jpg "Walmart is said close to USD12 bn deal for Indias Flipkart (c) Bloomberg News")
Image: Bloomberg News
Tiger Global Management will sell nearly all its 20 percent stake in Flipkart, while SoftBank will offload a substantial part of its 20 percent-plus holding.
Walmart will likely end up with 60 percent to 80 percent of Flipkart, valued at about USD20 bn.