Naspers sells 11.18% Flipkart stake for $2.2 bn to Walmart
South African conglomerate Naspers sold its entire 11.18% stake in Indian e-commerce firm Flipkart to Walmart for $2.2 billion, it said on Wednesday. Naspers said the proceeds from the sale will be used to reinforce Naspers' balance sheet to fuel the growth of the company. Naspers backed Flipkart in 2012 and had invested roughly $616 million since that time.