Flipkart revises offer for Snapdeal

Indian e-commerce giant Flipkart has made a revised offer for rival Snapdeal. The two companies are competitors in the fast growing Indian industry that is becoming increasingly crowded with Amazon arriving in the last year.

There have been differing opinions on how much the revised offer is, ranging from $900 million to $950 million, with US markets news agency Bloomberg’s sources putting the figure at the higher amount.

Earlier this month, Snapdeal’s board rebuffed the initial offer from Flipkart.

The US media outlet claimed that Japan’s SoftBank, which backs Snapdeal, and New York’s Tiger Global Management, a Flipkart investor, are keen to see a merger, which has been under discussion for some time.

Flipkart and Snapdeal have been the two big players in the Indian market, but they have been facing strong competition from Amazon in recent years.

 
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