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By EquityPandit
Flipkart’s board of directors has given an approval to sell approx 75% stake to a group led by Walmart, for approx USD 15 billion.
As a part of the deal, Google’s parent company Alphabet might also acquire a stake in Flipkart. Softbank Group will sell its 20% stake in Flipkart, that it owns via an investment fund. Furthermore, the deal will be closed in 10 days but few of its terms may be susceptible to change later.
Read EquityPandit’s Technical Analysis of Indian Stock Market
