Snapdeal-Flipkart merger talks end, former to go solo in market

New Delhi : E-retail company Snapdeal on Monday ruled out any strategic discussions on selling its stakes to rival Flipkart.

Snapdeal claimed that it has planned to pursue an independent path in future.

"As we have been exploring strategic options over the months, we have decided to pursue an independent path and terminate all strategic discussions, said a Snapdeal spokesperson in a statement, without referring to Flipkart.

There have been no words from Flipkart over denial of the deal that was revised to a new selling price of $900-950 million.

Snapdeal had been facing a tough time in the market among its arch rivals Amazon and Flipkart.

Snapdeal on July 27 sold its mobile wallet FreeCharge subsidiary to the Mumbai-based Axis Bank for Rs 385 crore.