BBG: Flipkart in talks to raise $3bn from SoftBank, sovereign wealth funds

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BLOOMBERG reports:

– SoftBank to back Flipkart again after selling stake to Walmart

Flipkart, the Indian e-commerce giant controlled by Walmart Inc., is in talks to raise at least $3 billion from investors including SoftBank Group Corp. and several sovereign wealth funds, according to people familiar with the matter.

The startup is targeting a valuation of about $40 billion and is in discussions with Singapore’s GIC Pte., Canada Pension Plan Investment Board and the Abu Dhabi Investment Authority, said the people, asking not to be named because the discussions are ...