Flipkart to up offer for Snapdeal

Mumbai, July 11: Flipkart is preparing to pay more for a snap deal. We all knew that The Flipkart came forward to buy for $ 850 million (Rs 5,500 crore) in the past, But the company Snapdeal declined.

According to the Sources, It is going to buy whopping price Around Rs. 6,500 crore (billion dollars) will be proposed. In a few days, the offer is likely to be placed before Snapdeal. They added that if the terms are accepted, the deal would be completed within a month or so.

Snapdeal, SoftBank, Flipkart refused to respond on this issue. Snapdeal's officials have been rejected a takeover offer of $800-850 million (around Rs 5,500 crore) from Flipkart as it felt the amount undervalued the company given that the due diligence report was clean.

SoftBank, Snapdeal's largest investor, has been proactively mediating the sale for the past few months.