Mumbai/ Bengaluru: Indian e-commerce firm Snapdeal on Monday said it was ending all talks regarding a sale to bigger rival Flipkart and would remain independent, bringing down the curtain on months of negotiations around the deal valued at up to $950 million.
The board of Jasper Infotech, which runs Snapdeal, had in-principle agreed to Flipkart's
"The company has now decided to pursue an independent path and is terminating all strategic discussions as a result," the company said in a statement.
Snapdeal will be able to financially sustain itself with the sale of certain non-core assets, it added.
Japan's SoftBank, Snapdeal's biggest investor, said it respects the decision to pursue an independent strategy.
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