Snapdeal ends merger talks with Flipkart; to go solo
July 31, 2017  15:54
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Snapdeal today called off the USD 950 million-takeover (over Rs 6,000 crore) by Flipkart, apparently over differences in valuation and terms of what could possibly have been the largest deal in the Indian e-commerce space. Discussions to acquire the beleagured Snapdeal by Flipkart were initiated in March but contours of the deal could not reach a finality even after several rounds.


"Snapdeal has been exploring strategic options over the last several months. The company has now decided to pursue an independent path and is terminating all strategic discussions as a result," a Snapdeal spokesperson said in a statement, without naming Flipkart.


The spokesperson added that the company will now pursue "Snapdeal 2.0" which is expected to help Snapdeal be "financially self-sustainable".
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