Snapdeal Rejects Flipkart

by Business | 05-07-2017 | 700 views

New Delhi: According to sources it is believed that the Snapdeal board has rejected an offer of 800 – 850 million USD (approx. 5,500 Crore) from Flipkart in regards to their takeover offer. SoftBank – Snapdeal’s largest investors has been mediating over the sale for a few months. SnapDeal is one of India’s leading contenders in e-commerce space but as of late have been declining in sales due to stiff competition from Amazon & Flipkart. If the deal does go through, it would mark the biggest acquisition in Indian e-commerce space.

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