<p align="justify">Snapdeal will seek views of its shareholders, including Ratan Tata and PremjiInvest, on the proposed USD 900-950 million buyout deal by Flipkart, a source said.<br /><br />The deal is almost through but there are a few areas of concern and the Board wants to seek views and comments from shareholders on the deal, two people aware of the developments said.<br /><br />They did not want to be identified as discussions are still on and the deal has not been finalised yet.<br /><br />SoftBank declined to comment, while Snapdeal did not respond to emailed queries.<br />Snapdeal's largest investor, SoftBank has been proactively mediating the sale for the past few months.</p>.<p align="justify"><br />Snapdeal has a number of investors including Ontario Teachers' Pension Plan, PremjiInvest, Ratan Tata, Foxconn, Temasek and BlackRock among others.</p>.<p align="justify"><br />Interestingly, PremjiInvest -- the personal investment arm of Wipro chairman Azim Premji has already written to Snapdeal seeking greater clarity on the deal terms.</p>.<p align="justify"><br />It has also called for equal treatment of shareholders for payouts from the deal.</p>.<p align="justify"><br />Reportedly, early investors, Nexus Venture Partners (NVP) and Kalaari -- who also have Board representation -- could receive payouts worth over USD 150 million once the deal with Flipkart is closed.<br /><br />One of the sources said the founders, Kunal Bahl and Rohit Bansal, are more keen on selling the company to listed e-commerce firm, Infibeam or stay independent.</p>.<p align="justify"><br />To remain an independent entity, Snapdeal will cut jobs by almost 90 per cent and reduce the size of its business, the source added.<br /><br />While there have been speculations that Infibeam has made an offer of USD 700-750 million to buy Snapdeal, the Ahmedabad -based firm has said that these reports are "purely speculative".</p>.<p align="justify"><br />The other source said the deal with Flipkart is likely to come through in the next few days.</p>.<p align="justify"><br />The Snapdeal Board is now expected to meet next week. As per reports, Flipkart Board will also meeting later this week to discuss matters pertaining to the Snapdeal buyout.</p>.<p align="justify"><br />Earlier this month, Flipkart had made a revised offer of about USD 900 million after its first offer of USD 800-850 million was rejected by the Snapdeal board.</p>.<p align="justify"><br />The company had rejected the offer saying it was significantly lower than its USD 1 billion valuation.</p>.<p align="justify"><br />The deal between Snapdeal and Flipkart, if completed, would mark the biggest acquisition in the Indian e-commerce space.</p>.<p align="justify"><br />One of the leading contenders in the Indian e-commerce space, Snapdeal has seen its fortunes failing amid strong competition from Amazon and Flipkart.</p>.<p align="justify"><br />Compared to a valuation of about USD 6.5 billion in February 2016, the sale to Flipkart could see Snapdeal being valued at about USD 1 billion.</p>.<p align="justify"><br />SoftBank has already written off over USD 1 billion on valuation of its investment in Snapdeal.</p>
<p align="justify">Snapdeal will seek views of its shareholders, including Ratan Tata and PremjiInvest, on the proposed USD 900-950 million buyout deal by Flipkart, a source said.<br /><br />The deal is almost through but there are a few areas of concern and the Board wants to seek views and comments from shareholders on the deal, two people aware of the developments said.<br /><br />They did not want to be identified as discussions are still on and the deal has not been finalised yet.<br /><br />SoftBank declined to comment, while Snapdeal did not respond to emailed queries.<br />Snapdeal's largest investor, SoftBank has been proactively mediating the sale for the past few months.</p>.<p align="justify"><br />Snapdeal has a number of investors including Ontario Teachers' Pension Plan, PremjiInvest, Ratan Tata, Foxconn, Temasek and BlackRock among others.</p>.<p align="justify"><br />Interestingly, PremjiInvest -- the personal investment arm of Wipro chairman Azim Premji has already written to Snapdeal seeking greater clarity on the deal terms.</p>.<p align="justify"><br />It has also called for equal treatment of shareholders for payouts from the deal.</p>.<p align="justify"><br />Reportedly, early investors, Nexus Venture Partners (NVP) and Kalaari -- who also have Board representation -- could receive payouts worth over USD 150 million once the deal with Flipkart is closed.<br /><br />One of the sources said the founders, Kunal Bahl and Rohit Bansal, are more keen on selling the company to listed e-commerce firm, Infibeam or stay independent.</p>.<p align="justify"><br />To remain an independent entity, Snapdeal will cut jobs by almost 90 per cent and reduce the size of its business, the source added.<br /><br />While there have been speculations that Infibeam has made an offer of USD 700-750 million to buy Snapdeal, the Ahmedabad -based firm has said that these reports are "purely speculative".</p>.<p align="justify"><br />The other source said the deal with Flipkart is likely to come through in the next few days.</p>.<p align="justify"><br />The Snapdeal Board is now expected to meet next week. As per reports, Flipkart Board will also meeting later this week to discuss matters pertaining to the Snapdeal buyout.</p>.<p align="justify"><br />Earlier this month, Flipkart had made a revised offer of about USD 900 million after its first offer of USD 800-850 million was rejected by the Snapdeal board.</p>.<p align="justify"><br />The company had rejected the offer saying it was significantly lower than its USD 1 billion valuation.</p>.<p align="justify"><br />The deal between Snapdeal and Flipkart, if completed, would mark the biggest acquisition in the Indian e-commerce space.</p>.<p align="justify"><br />One of the leading contenders in the Indian e-commerce space, Snapdeal has seen its fortunes failing amid strong competition from Amazon and Flipkart.</p>.<p align="justify"><br />Compared to a valuation of about USD 6.5 billion in February 2016, the sale to Flipkart could see Snapdeal being valued at about USD 1 billion.</p>.<p align="justify"><br />SoftBank has already written off over USD 1 billion on valuation of its investment in Snapdeal.</p>