SoftBank is set to sell a big slice of its stake at a 60% profit as part of a deal that will value the India-based e-commerce company at $20bn.
Retail group Walmart is set to invest about $12bn in India-based e-commerce firm Flipkart in the next two weeks in return for a majority stake, Bloomberg reported yesterday.
All the major investors in the company have approved the deal according to people familiar with the matter, and SoftBank will sell a “substantial” part of its stake, sized at more than 20%, at the $20bn valuation at which Walmart will invest.
The company’s other large investor is hedge fund manager Tiger…
