Nexus still holding out on merger of Flipkart-Snapdeal

SoftBank needs a final, crucial, aye from Nexus Venture Partners, an early investor in online marketplace Snapdeal, to deal on the proposed merger of the latter into larger rival Flipkart.

However, with the most to lose from the acquisition, the venture capital (VC) entity is trying for a hard bargain. SoftBank, the Japanese investment firm which has a majority stake in Snapdeal, is looking to close the deal this week, sources said.

Softbank began the conversation last month, to urge a merger of Snapdeal into Flipkart. Since then, it has engaged NVP and Kalaari Capital, early investors in Snapdeal, to