Paytm pulls out of Snapdeal buyout talks, leaves ball in Flipkart s court
Paytm has pulled out of talks to acquire Snapdeal leaving the ball in the court of Flipkart s major investors. Paytm was not keen to consider a valuation of over USD 800 million to USD 1 billion for Snapdeal.Snapdeal has raised close to USD 1.76 billion from investors such as Ontario Teachers’ Pension Fund, Softbank, Alibaba Group, Temasek and others. A low valuation would also mean that late stage investors in the company could get a low or negative return on their investments.Snapdeal continues to be in conversation with Flipkart. If all goes well, the merger could be announced in May, a person close to developments said.