Walmart close to finalizing $12 bln Flipkart deal: Bloomberg

Walmart is close to completing its buy of Flipkart for at least $12 billion, Bloomberg is reporting. All the major investors in Flipkart Online Services Pvt are now on board with the Walmart purchase, the story said. Tiger Global Management is selling nearly all of its 20 percent stake in Flipkart, while SoftBank Group is unloading a substantial part of its holding, Bloomberg said. Walmart will likely end up with 60 percent to 80 percent of Flipkart, India’s leading ecommerce company.