Flipkart-Snapdeal merger likely to end

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The Snapdeal sale to Flipkart has been put on hold after an important meeting between the two parties was canceled in Bengaluru.

The meeting, which was supposed to take place Monday and Tuesday in Bengaluru over the merger settlement, was called off.

It was reported that, “The two co-founders have said they will vote in favour of Snapdeal going forward as a smaller, but independent entity, terming it ‘Snapdeal 2.0’,” “The two co-founders have said they will vote in favour of Snapdeal going forward as a smaller, but independent entity, terming it ‘Snapdeal 2.0”.

The founder of Snapdeal Kunal Bahl wrote a letter to his employees which reads, “We have an opportunity of a lifetime here, and we must seize it and make the most of it”.

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