In merger push, Credit Suisse tries to clear Premji hurdle

Azim Premji has objected to special payments to certain investors

Even as Flipkart Online Services Pvt’s planned acquisition of rival Indian e-commerce provider Snapdeal has hit a snag over a smaller shareholder of the latter objecting to special payments to certain investors, investment bank Credit Suisse is reaching out to minority shareholders of Snapdeal to build a consensus on the sale of the e-commerce platform to Flipkart. Meanwhile, the snag may put the deal in jeopardy, or at least substantially drive down Snapdeal’s valuation from a previously agreed-upon $1 billion.
 
According to sources, Credit Suisse, which is advising Snapdeal on the proposed deal, is reaching out to smaller shareholders