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India's Flipkart Yet To Finalise Stake Sale Deal With Walmart: Sources

Published on May 4 2018 12:32 PM in Retail tagged: Featured Post / India / Walmart / Amazon / Flipkart / Paywall

India's Flipkart Yet To Finalise Stake Sale Deal With Walmart: Sources

Indian e-commerce firm Flipkart's board is yet to finalise a deal to sell a stake to Walmart Inc., two sources with direct knowledge of the matter said on Friday, with one of them saying a deal could just be days away.

Bloomberg, earlier on Friday, citing unnamed sources, said the firm's board had approved a deal to sell a stake of about 75% in the company to a group led by US retail giant Walmart for about $15 billion.

Walmart is in advanced talks with Flipkart to acquire a controlling stake of more than 51% in the Bengaluru-based online marketplace at a valuation of at least $18 billion, Reuters has previously reported.

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