Shulou(Shulou.com)11/24 Report--

CTOnews.com, January 26 (Xinhua)-- private equity firms Accel and Tiger Global, two early supporters of the Indian e-commerce company Flipkart, are in talks to sell its remaining stake in Flipkart to its parent company Wal-Mart for about $1.5 billion (currently about 10.17 billion yuan), Reuters reported, citing the Economic Times of India.

The combined stake of about 5% will further increase Wal-Mart's stake in the e-commerce giant from the current 72%, according to people familiar with the matter.

Accel and Tiger want to sell and exit completely now, according to a person familiar with the matter. The discussion is moving forward and the deal will be completed in due course.

CTOnews.com has learned that Accel reportedly owns a little more than 1 per cent of Flipkart, while Tiger Global holds about 4 per cent of the company.

Flipkart, Wal-Mart and Tiger Global did not immediately respond to requests for comment. Reuters said Accel could not immediately be reached for comment.

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