(April 10): SoftBank Group Corp’s Masayoshi Son and Amazon.com Inc founder Jeff Bezos are heading for a clash in India. To get the merger done, Son is willing to cut Snapdeal’s valuation 85 percent to US$1 billion, said the people, asking not to be named because the talk is private. Flipkart, Snapdeal and SoftBank all declined to comment. The combination of India’s two leading e-commerce players is being called an arranged marriage, said the people, with Son playing the role of matchmaker. That would give Flipkart more firepower to battle Amazon in one of the world’s fastest growing online retail markets.

Source: The Edge Markets April 10, 2017 10:23 UTC