MUMBAI (Reuters) - Indian e-commerce firm Flipkart’s board has approved a deal to sell an equity stake of about 75 percent in the company to a group led by Walmart Inc (WMT.N) for about $15 billion, Bloomberg reported on Friday, citing unnamed sources.
A final close of the deal is expected within 10 days, although deal terms could still change and a deal isn’t certain, Bloomberg reported.
Flipkart and Alphabet did not immediately respond to requests for comment. Walmart and SoftBank declined to comment.
Earlier this week, Indian TV channel CNBC-TV18 reported that Amazon.com Inc (AMZN.O) has made a formal offer to buy 60 percent of Flipkart. Amazon, which is Flipkart’s biggest rival in India, declined to comment on that report.
Reporting by Sankalp Phartiyal; Editing by Muralikumar Anantharaman