SoftBank CEO Confirms Walmart Buying India E-tailer Flipkart

9 May, 2018 16:05 IST

The deal will see some of the biggest investors in Flipkart offloading their holding in the country’s largest e-commerce company&nbsp;

Tokyo: US retail giant Walmart will buy a majority stake in India's largest e-commerce company Flipkart, according to the head of SoftBank, a major stakeholder in the Indian firm.

"Last night, (they) reached a final agreement and it was decided that Flipkart will be sold to America's Walmart," said SoftBank CEO Masayoshi Son, whose firm owns a 20 per cent stake in Flipkart.

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AFP