Ratan Tata, Temasek and others give nod to Snapdeal-Flipkart merger

In yet another development in the long winding Flipkart-Snapdeal merger talks, sources said that Tata Group chairman emeritus Ratan Tata, Temasek, BlackRock and Foxconn all high profile shareholders in the Gurgaon based online marketplace have given in-principal approval to the deal.

However none of the shareholders could be contacted to confirm or deny the news. According to some sources, Premji Invest and Ontario Pension Fund still have not given their nod to the merger. Snapdeal refused to comment on the issue. For the deal to go ahead, at least 75 percent of minority shareholders had to give a nod.

Getting a nod