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SoftBank Says Selling its Entire Flipkart Stake to Walmart

Walmart said earlier this month it will pay $16 billion for a roughly 77 percent stake in Flipkart, the U.S. retailer's largest-ever deal.

Reuters

Updated:May 23, 2018, 8:31 AM IST
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SoftBank Says Selling its Entire Flipkart Stake to Walmart
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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 U.S. 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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