Snapdeal/Flipkart deal is off
Indian e-commerce players Snapdeal and Flipkart appear to have ended their merger talks. Last week, media sources reported that the Snapdeal board had agree in principle to a deal that would have seen Flipkart buy the company for around $950m. Today, however, it appears that the negotiations have been brought to a close and Snapdeal wants to pursue an independent path.
The termination of the merger talks will probably be welcome news for Amazon, which has been making a major play for the Indian e-commerce market.
