India's Flipkart approves $15 billion stake sale to Walmart-led group: Bloomberg

May 4, 2018 8:27 AM

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MUMBAI (Reuters) - Indian e-commerce firm Flipkart’s board has approved a deal to sell an equity stake of about 75 percent in the company to a group led by Walmart Inc (WMT.N) for about $15 billion, Bloomberg reported on Friday, citing unnamed sources.

SoftBank (9984.T) will sell its 20-plus percent stake as part of the deal, Bloomberg said, adding Google’s parent Alphabet Inc (GOOGL.O) was likely to participate in the investment with Walmart.

Also read: SoftBank’s Son: Still Weighing Options on Sale of Flipkart Stake

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