Private equity firms Accel and Tiger Global are in talks to sell their remaining stake in ecommerce company Flipkart to its parent Walmart Inc for about $1.5 billion, The Economic Times reported on Thursday. These two were among the two early backers of the company.
Accel owns a little over 1 per cent of Flipkart, while Tiger Global holds about 4 per cent of the company. The stake would raise Walmart's ownership in the e-commerce giant, ET reported, citing people familiar with the matter.
"They (Accel and Tiger) want to sell and exit now fully. The discussions are moving ahead and the transaction will