SoftBank likely to invest over Rs 12,000 crore in Flipkart, report says
SoftBank is the largest investor in Snapdeal and with this deal (Snapdeal-Flipkart merger) the Japanese firm was trying to engineer an all-stock transaction for months, as a means to secure a sizeable stake in Flipkart.
After Snapdeal's merger plan was snapped, its investor SoftBank is said to be in talks to invest $2 billion (Rs 12,634 crore) in Flipkart, a media report said.
Japanese firm, SoftBank which has been investing in Indian e-commerce actively, is now likely to put money in e-commerce major Flipkart, as reported by Bloomberg.
However, the company has not yet given out any official statement.
The report on SoftBank's investment came in a day after the failure of Snapdeal and Flipkart merger deal. SoftBank is the largest investor in Snapdeal and with this deal the Japanese firm was trying to engineer an all-stock transaction for months, as a means to secure a sizeable stake in Flipkart.
The deal was called off after Snapdeal decided to remain independent. SoftBank, led by Masayoshi Son, said it respects Snapdeal's decision to pursue an independent strategy.
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