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Snapdeal can merge with Flipkart as per report

Added by TM News

Snapdeal's biggest investor Softbank is pushing merger with other indian market giant Flipkart. Japanese invester & telecom giant is looking profit in this massive deal.

According to source Snapdeal was facing negative reviews and continious loss in the indian market. Softbank had given indication of such kind of steps. In another way Snapdeal & Flipkart is already facing big challenge from Amazon. To save domestic market ratio Softbank wants to go for Flipkart side. Being a biggest investor Japanese group already invested massive amount on Snapdeal.

Flipkart's largest investor Tiger Global can include $1bn share sale for deal. Many internal conversations are undisclosed. Tiger is expecting to sell 10% of its stake from flipkart.

Tiger hold powerful position in Ola, Shopclues and Quikr in indian market & since 2015 didn't show interest in Indian tech companies. If deal will be sucessfully accomplished, Flipkart will be the biggest indian ecommerce company.



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