Flipkart may woo Snapdeal with revised bid after rejection of $800 mn offer

Flipkart

Latest News – Online marketplace biggie Flipkart is all set to revise the bid to buy Snapdeal after the latter’s board of directors rejected the first offer of nearly $800 million.

The bid, which might be sent in the next few days, would be close to the Snapdeal board’s demand of a billion dollars, sources close to the board said. They added that if the terms are accepted, the deal would be completed within a month or so.

The Snapdeal board members had last rejected the offer of $800 million made by Tiger Global-backed domestic online retail giant Flipkart, but sources said talks are still on. The board, which pegged the valuation of the company at (Read More)

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