Flipkart Likely To Get Sold! Walmart Is Purchasing Flipkart Says Softbank CEO Masayoshi Son

Flipkart to get sold to Walmart confirms Softbank son on Wednesday. The Walmart and Flipkart deal was locked on Tuesday night Japan time(Source: Reuters).

Softbank will be selling all its Flipkart share to Walmart. softbank invested $2.5 billion in Flipkart and now their total share is around for $4 billion (source: Bloomberg).

Alphabet inc google parent company also likely to purchase some stake in the e-commerce business with Walmart. Sachin Bansal will sell off his 5.5% share which is valued at around $1 billion (source: Mint).

After Sachin Bansal exit, it is expected that Binny Bansal will be taking the command as a chairman of flipkart and Kalyan Krishnamurthy will remain the CEO of the company.

Walmart Inc $WMT is acquiring Indian e-commerce player Flipkart, SoftBank Group chief executive Masayoshi Son said https://t.co/DOhTfF3g2H

— Reuters India (@ReutersIndia) May 9, 2018

Flipkart an e-commerce platform was founded in 2007 in Bengaluru and started by Sachin Bansal and Binny Bansal who were the ex-employees of Amazon.

Today we might hear the deal from Walmart about the Acquirement.