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Flipkart sweetens buyout offer for Snapdeal with $950 million offer

Flipkart-Snapdeal deal: The new proposal is being evaluated by the company's board

Reuters  |  Mumbai 

The logo of India's largest online marketplace Flipkart is seen on a building in Bengaluru (Photo: Reuters)

E-commerce player has sweetened its buyout offer for smaller rival to between $900 million and $950 million, two people familiar with the negotiations said, adding that the new proposal is being evaluated by the company's board.

Reuters previously reported that had earlier this month rejected Flipkart's initial bid of between $800 million and $850 million, as its board was unsatisfied with the offer and the payment terms.

The sources, who asked not to be named as the discussions are not public, said talks between the two sides are ongoing.

Flipkart, and its main backers were not immediately reachable for comment.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, July 18 2017. 09:34 IST