Snapdeal to divest 17.13% stake, exit DEN-Snapdeal TV Shop business
Thursday, March 23, 2017, 8:18 AM
Jasper Infotech operated e-commerce platform Snapdeal is looking at exiting teleshopping business DEN-Snapdeal TV Shop by divesting its entire stake in the company. Sameer Manhanda-promoted multi-system operator (MSO) DEN Networks currently holds 82.87% stake in the company, while Snapdeal has 17.13%. In 2014, DEN Networks Company entered into a 50:50 joint-venture with Snapdeal to launch a 24 hour teleshopping channel under the brand DEN-Snapdeal.