Valuation problems? SoftBank logs $1.4-billion loss in Snapdeal, Ola

$1-billion valuation loss from Snapdeal alone; stage set for Flipkart merger

Japanese telecom and internet giant SoftBank has written off nearly $1 billion in the value of Snapdeal (its best asset in India till recently), as it pushes to offload the Kunal Bahl-led company onto larger rival Flipkart. 

In its annual filings on Wednesday, the Tokyo-based multinational also wrote off $400 million in the value of taxi aggregator Ola — the second-largest investment in India for Masayoshi Son-led company. Valuation has been a roadblock for the proposed merger of Snapdeal with the country’s largest e-commerce player Flipkart. At its peak, Snapdeal was valued at around $6.5 billion, but at the current