SoftBank’s Son confirms Walmart to acquire India’s Flipkart

 U.S. retail giant Walmart Inc (WMT.N) is acquiring Indian e-commerce player Flipkart, SoftBank Group (9984.T) chief executive Masayoshi Son said on Wednesday.

The Walmart-Flipkart deal was sealed on Tuesday night, Japan Time, Son said on a conference call after SoftBank reported earnings, adding that its investment in the Indian online marketplace had almost doubled.

Sources have previously told Reuters that SoftBank would completely sell its shares in Flipkart to Walmart.