Flipkart is believed to be interested in the deal since it owns leading online fashion retailer Myntra, which competes with Jabong. Snapdeal and Aditya Birla are front-runners for Jabong, the people said. “Rocket Internet is keen to exit Jabong, while Kinnevik wanted to stay on and find a strategic investor. Over the past 10 months, Jabong has held talks with online and offline retailers; however, there has been no agreement on valuation. In September 2014, Rocket Internet merged Jabong with four other online fashion retailers in Latin America, Russia, the Middle East, South-east Asia and Australia to create GFG.

Source: Mint July 03, 2016 18:33 UTC