Wednesday, 24 May 2017

Flipkart-Snapdeal merger moves a step closer

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The talks of merger between Flipkart and Snapdeal scaled another hurdle after Japanese investor SoftBank completed the buyout of Kalaari Capital’s stake in Snapdeal. They said that SoftBank has also completed the buyout of Snapdeal founder's stake.

The deal, which has been in works for last few months, was stuck due to disagreement among stakeholders over final settlement for the company's earliest investors namely Kalaari Capital and Nexus Venture Partners.

The e-commerce players have signed a non-binding term sheet for the merger, sources said. Flipkart and Snapdeal now expect to complete the merger in three months’ time.

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