Japanese telecom giant and startup investor, Softbank, wants India’s top two online retailers to join forces to fight Amazon in the country.
Softbank is reportedly “orchestrating” a merger between Flipkart, India’s biggest online retailer, and rival Snapdeal, and could possibly have a deal by the end of next month.
Interestingly, Softbank is the largest investor in Snapdeal with a 30 percent share.
Snapdeal though is struggling to survive in the face of stiff domestic competition, especially after the aggressive expansion of Amazon which is now the second-biggest online retailer in the country. Read more…
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