India: Snapdeal wants Flipkart to pay at least $900m for buyout deal

Photo: Mint

Online marketplace Snapdeal has asked bigger rival Flipkart to pay at least $900 million in stock after rejecting the latter’s latest buyout offer, said two people familiar with the matter.

Flipkart is yet to respond to Snapdeal’s demand but the company will send a new offer this week that will be higher than its previous bid of $700-750 million, the two said on condition of anonymity.

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