0
Wireless

Flipkart board OKs sale of 75% stake to Walmart - report

Monday 7 May 2018 | 14:03 CET | News
Indian e-commerce marketplace Flipkart's board of directors has approved the sale of a 75 percent stake in the company to a group led by Walmart for USD 15 billion, Bloomberg reports, citing unnamed sources. According to the same source, SoftBank will sell its 20 percent stake. Google's parent Alphabet is also likely to participate in the investment with Walmart. The acquisition is expected to close within 10 days, although transaction terms could still change and a deal is not yet certain, the sources added.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: Alphabet / Amazon / Google / Softbank
Countries: India
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Walmart wins bidding for Flipkart, to buy 77% for USD 16 billion

Published 09 May 2018 13:53 CET | India
Walmart has won the bidding to acquire Indian e-commerce platform Flipkart, beating Amazon to the deal. The US company will pay ...

Vodafone India, Asus launch ZenFone Max Pro smartphone promotion

Published 07 May 2018 13:53 CET | India
Vodafone India, in partnership with Asus, have launched a promotion for customers who purchase the newly launched Asus ZenFone ...

Amazon bids for 60% stake in India's Flipkart - report

Published 03 May 2018 07:33 CET | India
Amazon has made a formal offer to buy a majority stake in Indian e-commerce marketplace Flipkart, CNBC affiliate CNBC TV-18 ...

SoftBank to sell Flipkart stake - report

Published 24 Apr 2018 08:38 CET | India
SoftBank Vision Fund plans to sell a substantial part of its 20 percent stake in Flipkart to Walmart, allowing the US retail ...





Calendar   /   Industry Events

02 Aug SBA Communications Q2
02 Aug NXP Semiconductors Q2
02 Aug Arista Networks Q2
02 Aug Ceragon Networks Q2
02 Aug DSP Group Q2 2021
02 Aug ON Semiconductor Q2
02 Aug DZS Q2
02 Aug Harmonic Q2
03 Aug Infinera Q3 2021
03 Aug Akamai Technologies Q2 2021
03 Aug NeoPhotonics Q2 2021
03 Aug Alibaba Q2 2021
03 Aug RingCentral Q2 2021
03 Aug Bredband2 Q2 2021
03 Aug Sequans Q2 2021
04 Aug Intred Q2 2021
04 Aug Softbank fiscal Q1
04 Aug Lumen Technologies Q2
04 Aug EA fiscal Q1
04 Aug Viavi Q4
04 Aug 8x8 fiscal Q1
04 Aug Digi International fiscal Q3
04 Aug Roku Q2 2021
04 Aug Inseego Q2 2021
04 Aug Qorvo fiscal Q1
04 Aug Aferian interim results
04 Aug Liberty Latin America Q2 2021
04 Aug Smith Micro Q2 2021
05 Aug Motorola Solutions Q2
05 Aug Frontier Communications investors meeting
::: More Calendar Items