Flipkart may merge with Myntra, shortly
Likely to launch IPO in Singapore after acquisitionMay 09, 2014 | comments ( 0 ) |
The highly anticipated merger of Bangalore-based online fashion store Myntra and its cross-town peer Flipkart is likely to completed by end May, media reports have indicated. The deal, which was expected to completed in April, was delayed as stakeholders had to go back to the ‘drawing board’ several times to reach a consensus on Myntra’s autonomy.
Flipkart is likely to launch an IPO in Singapore post the acquisition, according to sources.
Mukesh Bansal, CEO, Myntra, in a recent media interaction, said, “We are in talks with strategic and financial investors, and have not yet finalised anything.”
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