Snapdeal's top investor pushes sale to Flipkart
Tuesday, March 28, 2017, 8:50 AM
Japanese giant SoftBank is orchestrating a possible merger between the struggling Snapdeal and its bigger rival Flipkart. The deal, if it materializes, could bring about the most significant consolidation in the cash-guzzling domestic e-commerce market. The Japanese telecom and internet group is likely to invest up to $1.5bn in the merged entity by picking up primary and secondary shares.