Will Snapdeal merge with Flipkart? There’s no smoke without fire
Advertisement
Speculations are rife about merger of India’s two e-commerce players, Flipkart and Snapdeal.
Snapdeal ’s largest investor SoftBank is apparently channelizing a possible merger between the two Indian online marketplaces.
If this turns out to be true, Flipkart-Snapdeal merger will be one of the most significant consolidations in the Indian e-commerce market.
ET reportedSoftBank is likely to invest up to $1.5 billion in the merged entity by picking up primary and secondary shares, giving it around 15% in the Flipkart-Snapdeal combine. With a little over 30%, SoftBank is the largest investor in Snapdeal, which was valued at $6.5 billion in early 2016.
It also reported the merger is likely to include a $1 billion share sale byFlipkart 's largest investor Tiger Global, along with an infusion of fresh equity by SoftBank.
"SoftBank and Flipkart have agreed on the broad contours of the deal. If these terms stay on track, it's likely that the talks will culminate into a definitive transaction by late April," a person familiar with the talks told ET. The discussions, which have been on since February , have picked up in the past fortnight with SoftBank founder Masayoshi Son getting directly involved.
The possible Flipkart and Snapdeal merger will take on Amazon.
Advertisement
If this turns out to be true, Flipkart-Snapdeal merger will be one of the most significant consolidations in the Indian e-commerce market.
ET reported
It also reported the merger is likely to include a $1 billion share sale by
Advertisement
The possible Flipkart and Snapdeal merger will take on Amazon.
Advertisement
- We bought a house in Japan for $30,000. We'll have more land than we could afford in the US, and our kids will be more independent.
- Rumors Prince William is having an affair with Rose Hanbury are flooding social media again after Stephen Colbert waded into 'Katespiracy'
- CEO says he tried to hire an AI researcher from Meta, and was told to 'come back to me when you have 10,000 H100 GPUs'
- Garden city to concrete jungle: Bengaluru city has just 7% green cover left, reveals IISc study
- India can sustain 8% growth, even higher: RBI bulletin
- Zomato launches 'Pure Veg Mode' with vegetarian riders from eateries that don't serve meat
- Dalal Street investors become poorer by ₹4.86 lakh cr as markets tumble
- Housing markets remain strong in 2024, sales rise 20% across six metro cities in Q1