Japanese giant SoftBank Group Corp. is in talks with U.S retail behemoth Walmart Inc. to sell its stake in Flipkart Online Services Pvt. Ltd., The Times of India reported May 12, quoting sources close to the negotiations.
A deal may be reached in the next few days, according to the report. SoftBank is Flipkart's largest shareholder, holding a 22.3% stake.
Walmart announced recently it will buy a 77% controlling stake in the Indian e-commerce company for about $16 billion in cash and debt.