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Search resuls for: "Economics Times"


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July 30 (Reuters) - Walmart (WMT.N) has paid $1.4 billion to buy out hedge fund Tiger Global's investment in e-commerce firm Flipkart, the Wall Street Journal reported on Sunday, citing a letter by the hedge-fund to its investors. Walmart, Flipkart and Tiger Global did not immediately respond to Reuters' request for comment. Earlier this year the Economics Times reported that private equity firms Accel and Tiger Global, two early backers of Flipkart, were in talks to sell their remaining stake in the company to Walmart. Tiger Global held about 4% of the company, according to the ET report. Walmart acquired a majority stake of 77% in Flipkart for about $16 billion in 2018, and later that year said it could take the company public in four years.
Persons: Japan's SoftBank, Yana Gaur, Kim Coghill, Chris Reese Organizations: Walmart, Tiger, Flipkart, Wall Street, Tiger Global, Reuters, Economics Times, Accel, Thomson Locations: U.S, Flipkart, Bengaluru
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