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SoftBank opts out of Snapdeal funding deal

SoftBank opts out of Snapdeal funding deal

Monday, April 3, 2017, 10:54 AM

Japanese investor SoftBank has abruptly rescinded a $150-200 million debt financing it had offered to Snapdeal-owner Jasper Infotech, escalating a boardroom battle involving the online marketplace’s new and old investors. Lines are being drawn across the seven-member board, with Soft-Bank, the largest stakeholder in Snapdeal, squaring off against two of Snapdeal’s early backers Kalaari Capital and Nexus Venture Partners.
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