Snapdeal has for weeks been at the centre of much takeover speculation, with investor SoftBank seen as keen on selling the e-commerce firm to Tiger Global-backed Flipkart. ALSO READ : SoftBank preps Snapdeal for sale to Flipkart or PaytmSnapdeal has so far declined to comment on sale talks and said that it remains focused on achieving profitability. But recent layoffs at the company and heightened speculation around a takeover has spooked some employees, who have begun to look for new jobs. In the e-mail, Snapdeal’s founders Kunal Bahl and Rohit Bansal said their priority was to ensure the well-being of employees amid the “speculation” surrounding the company. Snapdeal, Flipkart and SoftBank declined to comment on the likelihood, or timing of any deal.

Source: Mint April 09, 2017 14:03 UTC