SoftBank confirms it will sell 20% Flipkart stake for $4 bn
Japanese conglomerate SoftBank has confirmed that it will sell its entire 20% stake in Indian e-commerce startup Flipkart to US-based retail giant Walmart. SoftBank, which invested $2.5 billion in Flipkart last year, will get $4 billion after the sale. Walmart on Wednesday announced it will acquire 77% Flipkart stake for $16 billion at a reported valuation of $20.8 billion.