Gold Silver Reports (GSR) – Walmart Likely To Close $12 Billion Deal For Flipkart Control –ย Walmart will take stake of 60-80 percent in Indiaโs biggest e-commerce company with all existing investors backing the deal, people familiar with the matter said.
๐ย SoftBank, which owns more than 20 percent of Flipkart, plans to sell a substantial part to Walmart, the people said, asking not to be identified ahead of a public announcement
๐ย Tiger will sell nearly all its shares, the people said
๐ย Valuation on Flipkart remains at about $20 billion, the people said
๐ย Walmart declined to comment while Flipkart didnโt immediately comment
๐ย Issues yet to be resolved include role of founders and the exact amount each investor will sell, the people said