Flipkart lifts bid for rival Snapdeal to up to $950 million

Indian web based business player Flipkart has sweetened its buyout offer for littler opponent Snapdeal to between $900 million and $950 million, two individuals comfortable with the arrangements stated, including that the new proposition is being assessed by the organization’s board.

Reuters beforehand revealed that Snapdeal had not long ago rejected Flipkart’s underlying offered of between $800 million and $850 million, as its board was unsatisfied with the offer and the installment terms.

The sources, who requested that not be named as the exchanges are not open, said talks between the two sides are progressing.

Flipkart, Snapdeal and its fundamental benefactors were not instantly reachable for input.

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