Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.


Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence


Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
News18 » Tech
1-min read

Snapdeal-Flipkart Merger: Softbank a Step Closer to Getting Consent of Nexus

A board meeting is expected to take place today to deliberate upon the issue.


Updated:May 10, 2017, 10:11 AM IST
Snapdeal, E-commerce Companies, Online Market, Wildlife Protection Act
Snapdeal faces legal action from the Madhya Pradesh Tiger Strike Force.(File image)

Japan's SoftBank is believed to have moved a step closer to securing the consent of co- investor Nexus Venture Partners (NVP) for selling Snapdeal to India's largest e-commerce firm Flipkart. Read more:

Read more: Honor 8 vs Honor 8 Lite: Which is the Best Honor Phone?

A meeting was held and the impasse over the sale could end soon, people familiar with the matter said.

Read more: OnePlus 3T 128GB ROM Out of Stock; Company Making Way for OnePlus 5?

SoftBank -- the largest shareholder in Snapdeal -- has been making all efforts to get NVP on board for the sale of Snapdeal, and a breakthrough could come as early as this week.

Don't miss: Vivo V5s Review: Selfie Lovers Will Love This Rs 18,990 Smartphone

They added that while attempts have been going on for the past few weeks, NVP finally seems to be warming up to the idea.

A board meeting is expected to take place today to deliberate upon the issue.

E-mails sent to Snapdeal, SoftBank and NVP did not elicit any response.

A 'yes' from NVP is crucial for the deal to go through.

The seven-member board of Jasper Infotech (which operates Snapdeal) includes representation from investors SoftBank, Kalaari Capital and NVP, as well as co-founders Kunal Bahl and Rohit Bansal.

NVP and Kalaari were early stage investors in Snapdeal.

Watch video review of Sony Xperia XZs

The deal between Snapdeal and Flipkart, if completed, would mark the biggest acquisition in the Indian e-commerce space and change the landscape of the sector that is witnessing intense competition among players.

Sources had highlighted that valuation has been one of the hurdles in the deal, as Kalaari Capital and Nexus were not in agreement with the valuation given by SoftBank.

However, that could change soon after NVP's approval. Kalaari has already given its nod to the proposed arrangement.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Krishna Sinha Chaudhury
Read full article
Next Story
Next Story

Also Watch


Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results