Walmart has been in talks with Flipkart regarding buying over 51% of stakes of the e commerce company. However, Flipkart’s major investor, SoftBank was reportedly unhappy with the deal and was not open for the deal. Walmart has offered Softbank, buying the existing shares of Flipkart at a valuation of $12 billion. But, the Japanese tech investor wasn’t all happy with the valuation and found the price quoted by Walmart, too low. According to the latest happenings in the town, Walmart has reached in on terms with SoftBank regarding valuation. In the new deal, Flipkart is believed to be valued at $18 billion. According to the available reports, the deal might take place by the next week itself.
SoftBank, right now, owns about a fifth of the shares in Flipkart. It is not known that whether SoftBank would be shedding its control over Flipkart. On the other hand, some of Flipkart’s other major investors – US hedge fund Tiger Global Management, Naspers and Accer, have all decided taking a full exit from the e commerce major.