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 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.

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.

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 Financial Services insights 

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