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In an offer to rescue its investee firm Snapdeal from going under totally, Japanese web and telecom aggregate SoftBank Corp has now turned its sights on destitute web based business firm Flipkart.

SoftBank is pushing for a merger between online commercial center Snapdeal and its adversary Flipkart in what could be the greatest M&A bargain in the Indian web based business area, a report in the Times of India expressed.

A year ago in August, VCCircle was the first to report that Snapdeal had started preparatory chats with Flipkart and Amazon for a conceivable merger.

SoftBank may put up to $1.5 billion in the blended substance, giving it near 15% stake in it, the TOI report included. It additionally said that US-based Tiger Global, Flipkart’s greatest speculator, will offload 10% stake of its 30% holding in the firm.

A week ago, VCCircle initially revealed that Tiger Global may have hit an arrangement with Microsoft and other new speculators to offer a piece of its stake in Flipkart with three-crease return.

Email inquiries sent to Snapdeal and Flipkart affirming the improvement did not promptly evoke a reaction at the season of recording this report.

Flipkart, which has seen its valuation being discounted progressively by existing speculators, has been investigating different choices, incorporating converging with eBay.

The part-offer of its Flipkart stake adjusts to Tiger Global’s technique to book a few picks up before effectively putting resources into the nation once more, VCCircle had revealed prior. It is a piece of its more extensive arrangements to monetise stakes in its significant wagers, for example, Flipkart, Ola and Quikr, in the close term.

This part-exit would mean three-crease return for Tiger Global’s greatest interest in India, superior to some of its poor exits, for example, Caratlane a year ago, where it made no additions by any means. But MakeMyTrip and JustDial, Tiger Global has seen no great exits in India yet.