Japan’s SoftBank is keen that e-commerce companies Flipkart and Snapdeal merge ,which will be one the big move in the domestic e-retail market.
According to the report, it is said that SoftBank was likely to invest $1.5 million in the merged firm with a stake of around 15%.
If this merger is successful then it will be a primary competition to Amazon. According to a media report, SoftBank is learned to have drawn up three options for Snapdeal- merge with Flipkart, combine with Alibaba-led Paytm, or a write-down of SoftBank’s investment to zero.
The news comes days after Flipkart raised $1 billion from China’s Tencents and Microsoft.