India: in discussions with Snapdeal and News Corp for strategic stake sale

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Online real estate platform has initiated discussions with e-commerce company Snapdeal and global media giant News Corpwhich also backs rival PropTiger, for a strategic stake sale to get over its financial troubles, according to a report in The Economic Times.

News Corp acquired a 25 per cent stake in Elara, the parent company of PropTiger, for $30 million in November last year and has since then increased its stake to about 30% in the startup.

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