your password has been reset successfully, Please login again.

SoftBank to sell its entire stake in Flipkart to Walmart

SoftBank had invested $2.5 billion in Flipkart last year
BY BEx Bureau
BusinessEx
May 24, 2018

After the Walmart-Flipkart deal, SoftBank has finally decided to sell its entire stock of over 20% to Walmart for an estimated $4 Billion. The Japanese investor invested nearly $2.5 billion in Flipkart through its Vision Fund last year.

SoftBank took time to arrive at a final decision in order to avoid the tax liability involving the sale of its stake. The company also wanted to wait to sell its stake until Flipkarts valuations picked up further in the near future.

Meanwhile, SoftBank, which has made sizeable investments of about $400 million in Paytm Mall and over $1 billion in its parent company One97 Communications, is reportedly in talks to invest another big chunk of millions of dollars into Paytm Mall, which is the third largest e-commerce firm in India which also counts Chinese giant Alibaba as one of its investors.

With this development, the country will see three large e-commerce firms Walmart-Flipkart, Amazon and Alibaba-Paytm Mall take on each other to gain dominant share in the e-commerce market.

Please add your Comment
SIMILAR News
October 13, 2018
With this acquisition, the Bengaluru-based mobile entertainment services company will expand its bus ...More
By Vaishnavi Gupta
October 12, 2018
As part of the deal, Advent purchased entire 40% stake held by Indian PE firm Kedaara Capital and a ...More
By Vaishnavi Gupta
October 11, 2018
Future Enterprises will pay Rs 20 crores for the stake and Rs 5 crores additionally, if required. ...More
By Vaishnavi Gupta
October 11, 2018
The acquisition will help MobiKwik to strengthen its foothold in the digital financial services sect ...More
By Vaishnavi Gupta
October 10, 2018
The combined entity will be providing a comprehensive solution to convert waste plastic into valuabl ...More
By Vaishnavi Gupta
October 09, 2018
The company is expecting that the AP unit will help it to strengthen its presence in the highly comp ...More
By Vaishnavi Gupta
October 09, 2018
With the acquisition of Two Roads, Hyatt will expand its brand presence into 23 new markets. ...More
By Vaishnavi Gupta
October 08, 2018
The acquisition marks Mercer's entry into the global talent assessment market. ...More
By Vaishnavi Gupta
October 06, 2018
Through this acquisition, Thomas Cook is foraying into the travel technology space. ...More
By Vaishnavi Gupta
October 03, 2018
Jakarta-based POS provider Moka has bought GetFocus, a Mumbai-headquartered retail analytics company ...More
By Vaishnavi Gupta
October 03, 2018
The acquisition is in line with Tata Communications' growth strategy for the global mobility and IoT ...More
By Vaishnavi Gupta
October 01, 2018
HCC Concessions Ltd will sell Farakka-Raiganj Highways Ltd to Cube Highways and Infrastructure II Pt ...More
By Vaishnavi Gupta