Mumbai — Indian e-commerce firm Flipkart’s sweetened takeover offer of up to $950m for Snapdeal has improved the chances of a deal between the two rivals, though some sticking points are still being hashed out, two sources familiar with the matter said. Leading homegrown online retailer Flipkart has revised its offer for Snapdeal, which is backed by SoftBank, to $900m-$950m, said the sources, adding the new proposal was being evaluated by Snapdeal’s board. Reuters previously reported Snapdeal had rejected Flipkart’s initial bid of $800m-$850m earlier in July as its board was dissatisfied with the offer and the payment terms. Flipkart’s revised offer had been made for Snapdeal’s marketplace and its e-commerce solutions provider Unicommerce, but did not include its logistics arm Vulcan Express and digital payments unit FreeCharge, which might be sold separately, said the sources, who did not want to be named as the discussions were not public. One source said Flipkart might withhold $...
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