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Walmart close to shelling out $10-12 bn for 51% stake in Flipkart: Sources

A deal is far from finalised, however, and talks between the two parties and investors in Flipkart are ongoing, said a third source

Reuters  |  NEW DELHI 

Walmart completed a thorough due diligence process on e-commerce firm Flipkart this week, two sources said, as the U.S. retail giant looks to take a controlling stake of 51 percent or more in the Indian company. Walmart has already floated a shareholder agreement, or offer proposal, and is looking to shell out about $10 billion to $12 billion for the stake that would value Flipkart at roughly $20 billion, one of the sources familiar with the matter said. A deal is far from finalised, however, and talks between the two parties and investors in Flipkart are ongoing, said a third ...

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First Published: Fri, April 06 2018. 18:02 IST
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