There's no deal; Snapdeal, Flipkart call off merger talks

Softbank would in all probability invest in Flipkart and not continue its association with Snapdeal

After a long-drawn David versus Goliath style contest to retain control over one of the oldest e-commerce companies in the country, Snapdeal co-founders Kunal Bahl and Rohit Bansal have prevailed over their biggest investor Japanese telecom giant SoftBank Group. Bahl and Bansal hold just about 6.5 per cent in Snapdeal, while SoftBank, with an investment of over $900 million, has around 33 per cent in it. 

In a short statement, Snapdeal said on Monday morning that the company was terminating all strategic discussions and would now pursue an independent path. It stayed silent on the job cuts that might follow,