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Flipkart, Snapdeal buyout deal may hit roadblock as Premji objects
24-Jun-2017

India's biggest e-commerce merger deal that will see Flipkart buying out troubled Snapdeal may have hit a roadblock with one of the smaller investors Wipro founder Azim Premji family raising certain objections.This may endanger the completion of the deal or slash the valuation of troubled e-commerce player Snapdeal, a Bloomberg report said. Premji family has raised objections over special payments made to certain shareholders that included payments to two co-founders and two early backers of Snapdeal.Premji family company PremjiInvest on Wednesday wrote to Snapdeal board drawing members attention towards these special payments to early shareholders and founders.

News Source:- http://www.deccanchronicle.com/business/companies/230617/flipkart-snapdeal-buyout-deal-may-hit-roadblock-as-premji-objects.html