UPDATE 3-Flipkart yet to finalise stake sale deal with Walmart-sources [Reuters]
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Source: Reuters
Flipkart yet to finalize stake sale deal with Walmart-sources | Reuters 4 Min Read MUMBAI/BENGALURU/NEW DELHI (Reuters) - Indian e-commerce firm Flipkart’s board is yet to finalize a deal to sell a controlling stake to Walmart Inc, two sources with direct knowledge of the matter said on Friday, adding a deal could just be days away. Bloomberg reported earlier on Friday, citing unidentified sources, that Flipkart’s board had approved a deal to sell a stake of about 75 percent in the company to a group led by U.S. retail giant Walmart for about $15 billion. A third source told Reuters that while Flipkart’s board had “in-principle” approved engaging with Walmart based on the terms of an offer before them, taxation related concerns and a few other issues need to be resolved. The first two sources said Alphabet Inc is also likely to invest in Flipkart alongside Walmart, but terms of the deal may change. Japan’s SoftBank Group, the biggest investor in the Indian firm through its private equ
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