Snapdeal in advanced talks to acquire ShopClues
Snapdeal is close to buying its nearest rival ShopClues in an all-stock deal. The deal is likely to see Shop-Clues investors get one Snapdeal share for every nine they hold if the merger goes through in this planned structure, and will likely give them a 10% stake in the combined entity. The due diligence process is now on and a final decision is expected soon.
ShopClues has reduced its losses from INR210 million (USD2.95 million) in 2017-18 to less than INR45 million (USD0.63 million) in 2018-19.