GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

Flipkart Approves $15 Billion Stake Sale to Walmart-led Group, Says Report

A final close of the deal is expected within 10 days, although deal terms could still change and a deal isn't certain, Bloomberg reported.

Reuters

Updated:May 4, 2018, 2:25 PM IST
facebookTwittergoogleskypewhatsapp
Flipkart Approves $15 Billion Stake Sale to Walmart-led Group, Says Report
File photo of a man carrying products in a Flipkart bag.
Loading...
Mumbai: 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 for about $15 billion, Bloomberg reported on Friday, citing unnamed sources.

SoftBank will sell its 20-plus percent stake as part of the deal, Bloomberg said, adding Google's parent Alphabet Inc was likely to participate in the investment with Walmart.

A final close of the deal is expected within 10 days, although deal terms could still change and a deal isn't certain, Bloomberg reported.
Flipkart and Alphabet did not immediately respond to requests for comment. Walmart and SoftBank declined to comment.

Earlier this week, Indian TV channel CNBC-TV18 reported that Amazon.com Inc has made a formal offer to buy 60 percent of Flipkart. Amazon, which is Flipkart's biggest rival in India, declined to comment on that report.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
IndusInd Bank 1,620.55 -0.39
SBI 270.30 2.70
Indiabulls Hsg 907.35 -4.38
Reliance 1,163.80 2.11
Infosys 695.25 -0.51
Company Price Change %Gain
HEG 4,750.65 10.64
Indiabulls Hsg 908.45 -4.24
Dewan Housing 269.55 -4.19
ICICI Bank 321.05 2.51
Reliance 1,163.65 2.09
Top Gainers
Company Price Change %Gain
M&M 777.70 3.83
Adani Ports 333.35 3.77
Tech Mahindra 718.70 3.48
ONGC 165.60 3.40
SBI 270.30 2.70
Company Price Change %Gain
M&M 778.30 3.97
Adani Ports 333.00 3.54
ONGC 165.50 3.44
SBI 270.20 2.60
ICICI Bank 321.05 2.51
Top Losers
Company Price Change %Gain
Indiabulls Hsg 907.35 -4.38
Eicher Motors 23,002.15 -1.84
Cipla 639.75 -1.25
Bharti Infratel 266.25 -0.87
JSW Steel 373.60 -0.85
Company Price Change %Gain
HDFC Bank 1,992.40 -0.77
Bajaj Auto 2,611.15 -0.54
Maruti Suzuki 7,149.95 -0.45
Infosys 696.40 -0.39
IndusInd Bank 1,620.85 -0.37

Live TV

Loading...
Loading...