India: Flipkart signs term sheet to acquire beleaguered rival Snapdeal- Report

India: Flipkart signs term sheet to acquire beleaguered rival Snapdeal- Report

An employee cleans a Snapdeal logo at its headquarters in Gurugram on the outskirts of New Delhi, India, April 3, 2017. REUTERS/Adnan Abidi

Inching closer towards finalising a deal, the country’s largest e-commerce firm Flipkart has signed a binding term-sheet to acquire cash-strapped rival Snapdeal, said a report in The Economic Times quoting sources.

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