Just days after we reported that online shopping site Snapdeal accepted Flipkart’s latest buyout offer, but was awaiting approval from Snapdeal shareholders, the e-commerce firm decided to terminate all talks with Flipkart and pursue an independent path
The deal with Flipkart was worth between $900-950 million, if it had gone through, would mark the largest acquisition in the Indian e-commerce landscape.
“Snapdeal has been exploring strategic options over the last several months. The Company has now decided to pursue an independent path and is terminating all strategic discussions as a result,” said Snapdeal.
