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Indian e-commerce firm Snapdeal says not in talks for sale
March 22, 2017 / 5:42 AM / 6 months ago

Indian e-commerce firm Snapdeal says not in talks for sale

MUMBAI, March 22 (Reuters) - Indian e-commerce marketplace Snapdeal on Wednesday firmly denied that it was in talks to sell the firm, after Mint newspaper reported the company was in talks with domestic rivals for a potential sale.

Mint had reported Snapdeal was in talks with Paytm E-Commerce Pvt Ltd and Flipkart (IPO-FLPK.N) for a potential sale, quoting sources.

“Snapdeal categorically denies having had any such discussion. The information is incorrect and without basis. We are making decisive progress in our journey towards profitability and all our efforts are aligned in this direction,” a spokeswoman said in a written statement. (Reporting by Sankalp Phartiyal; Editing by Himani Sarkar)

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