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Flipkart set to raise up to $1.5 billion amid talks to buy Snapdeal

Flipkart set to raise up to $1.5 billion amid talks to buy Snapdeal

Thursday, April 6, 2017, 8:24 AM

India’s largest online retailer Flipkart is set to get between $1.2 billion and $1.5 billion in fresh capital from Tencent Holdings Ltd, Microsoft Corp. and eBay Inc., funding that will provide it ammunition in the high-stakes battle with Amazon India for dominance of India’s e-commerce market. Flipkart is also continuing negotiations with Japan’s SoftBank Group to buy the latter’s portfolio company Snapdeal.
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