As per reports, Japanese giant SoftBank has called for a merger between Flipkart and Snapdeal. SoftBank is likely to acquire around 15% shares in the merged entity of Snapdeal and Flipkart. SoftBank currently owns 30% shares in Snapdeal being the largest investor. Flipkart which is based out of Bangalore is estimated to be valued at $10-11 billion.
Flipkart would be getting a strong anchor investor in form of SoftBank’s arrival giving it the required footing to battle Amazon.