There's no deal: Snapdeal-Flipkart merger talks just fell apart
Softbank would in all probability invest in Flipkart and not continue its association with Snapdeal LATEST NEWS : After five months, countless man hours of deliberation and numerous board meetings, the biggest consolidation in the Indian e-commerce history between Snapdeal and Flipkart has been called off, sources said. Sources added that Softbank would in all probability invest in Flipkart on its own and not continue its association with Snapdeal. The Snapdeal founders Kunal Bahl and Rohit Bansal, as well as early stage investor Nexus Venture Partner and smaller shareholders such as PremjiInvest, had all along expressed reservations about the deal. While Snapdeal board’s resolution is still to be out, sources said that Softbank, as well as Snapdeal, would come out with a statement announcing that the deal with Flipkart has been called. Sources close to the deal said that the board finally agreed that it would be better for Snapdeal to continue the operation...