SoftBank is selling its entire Flipkart stake to Walmart

SoftBank is selling its entire Flipkart stake to Walmart

SoftBank Group said on Wednesday it is selling its roughly 20 percent stake in Indian e-commerce firm Flipkart 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. SoftBank did not disclose terms of the sale but this month CEO Masayoshi Son said its investment in the Indian firm was worth around $4 billion. The Vision Fund invested 2.5billion in…

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