MOUNTAIN VIEW (dpa-AFX) - India's online retailer Flipkart is set to sell about 75% stake to Walmart Inc.-led group for approximately $15 billion, according to media reports, citing people familiar with the matter.
Under proposed deal, SoftBank Group Corp. will sell all of the 20-plus percent stake it holds in Flipkart through an investment fund at a valuation of roughly $20 billion, reports noted.
Google-parent Alphabet Inc. (GOOGL, GOOG) is likely to participate in the investment with Walmart, said one of the people. A final close is expected within 10 days, the reports specified.
Copyright RTT News/dpa-AFX