SoftBank to sell entire Flipkart stake to Walmart

  • 5/23/2018
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TOKYO: SoftBank Group Corp. said on Wednesday it is selling its roughly 20 percent stake in Indian e-commerce firm Flipkart to Walmart Inc. Walmart said earlier this month it will pay $16 billion for a roughly 77 percent stake in Flipkart, the US retailer’s largest-ever deal. A SoftBank spokesman declined to give further details. SoftBank CEO Masayoshi Son said earlier this month the $2.5 billion investment through its private equity fund in Flipkart made last year was worth $4 billion.

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