SoftBank says selling its entire Flipkart stake to Walmart

 SoftBank Group Corp (9984.T) said on Wednesday it is selling its roughly 20 percent stake in Indian e-commerce firm Flipkart [IPO-FLPK.N] to Walmart Inc (WMT.N).

Walmart said earlier this month it will pay $ 16 billion for a roughly 77 percent stake in Flipkart, the U.S. retailer’s largest-ever deal.

A SoftBank spokesman declined to give further details.

SoftBank CEO Masayoshi Son said earlier this month the $ 2.5 billion investment through its private equity fund in Flipkart made last year was worth $ 4 billion.