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Apr, 27 2018

Google's Parent Alphabet may pick minority stake in Flipkart

Walmart is looking to buy an 85-86% stake in Flipkart through a mix of primary and secondary investments.

Google’s parent Alphabet Inc. may invest $1-2 billion (Rs 6,672-13,345 crore) In Indian e-commerce major Flipkart to pick up a minority stake after the Walmart deal, reported a financial daily.

Walmart is looking to buy an 85-86% stake in Flipkart through a mix of primary and secondary investments, reported a financial daily. Walmart is also in talks with Flipkart co-founders Sachin Bansal and Binny Bansal to buy their stakes.

According to the report, Chinese internet conglomerate Tencent and New York-based investment firm Tiger Global, which have a combined stake of 26.5% in Flipkart, will make a partial exit in the initial round, while Japanese tech giant SoftBank may sell its entire 20.8% stake.

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