Nexus finally gives in, Snapdeal ready to merge with Flipkart

The transaction is through and an announcement could come anytime within the next 72 hours

Three months, more than 15 meetings, and a payout of at least $210 million later, it’s a clear road now for Japanese telecom and internet giant SoftBank to merge its biggest Indian asset Snapdeal with leading e-commerce firm Flipkart.
 
The deal valuing Snapdeal at around $1 billion, a steep fall from its peak of $6.5 billion last year, signals the biggest consolidation in the sector and fierce competition between Jeff Bezos-led Amazon and the poster boy of Indian e-commerce, Flipkart. The transaction is through, sources in the know confirmed, and an announcement could come anytime within the next 72