MUMBAI: Walmart could invest $3 billion more
in Flipkart within a year of completing the
purchase of 77 per cent stake in the Indian e-commerce company, the world's
largest retailer said in a filing to the US Securities and Exchange Commission
on Friday. Walmart's additional share purchase, if made, will be at the same
price at which it made the initial investment, the filing said. This could take
Walmart's stake to over 85 per cent.
The
price at which Walmart bought Flipkart stake has not been disclosed, and different
tranches could have been purchased at different prices. Walmart's filing
assumes significance at a time when Flipkart's key shareholder, Japanese
internet and telecoms giant, Soft-Bank, is undecided about the sale of its
shares. SoftBankholds approximately 22 per cent in
Flipkart. As TOI reported on May 12, Walmart and SoftBank are in talks to
decide on a time to execute the share transaction at a predetermined price. The
Masayoshi Son-led, SoftBank group invested $2.5 billion in Flipkart in August
last year through its $100 billion Vision Fund.
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