Latest News – Indian online marketplace Snapdeal is in talks with domestic rivals Paytm E-Commerce Pvt Ltd and Flipkart for a potential sale, Indian daily business newspaper Mint reported on Wednesday, citing sources.
However, a Snapdeal spokesperson denied the report of sale talks with Paytm and Flipkart, according to the newspaper.
“Your information is incorrect and without basis. We are making decisive progress in our journey towards profitability and all our efforts are aligned in this direction”, the spokesperson said in an email to Mint.
Japan’s Softbank Group, an investor in Snapdeal, is leading the sale talks, and the deal could value the online retailer at less than (Read More)