Bengaluru: Online marketplace Snapdeal has asked bigger rival Flipkart to pay at least $900 million in stock after rejecting the latter’s latest buyout offer, said two people familiar with the matter. More From Livemint »Mint reported on 4 July that Snapdeal (Jasper Infotech Pvt. Ltd) had rejected an offer of $700-750 million from Flipkart, which had initially proposed buying Snapdeal for close to $1 billion. The Snapdeal sale to Flipkart is being done mainly for the benefit of SoftBank and Tiger Global Management, Flipkart’s largest investor. Already, partly in anticipation of the deal, Sachin, and in particular, Binny, have increased their involvement in the running of Flipkart, Mint reported on 11 July.

Source: Mint July 12, 2017 20:03 UTC