Flipkart, Snapdeal merger at risk

Flipkart Online Services Pvt.'s planned acquisition of rival Indian e-commerce provider Snapdeal has hit a snag that may put the deal in jeopardy, or at least substantially drive down Snapdeal's valuation from a previously agreed-upon $1 billion. One of the smaller investors in Snapdeal, Azim Premji, objects to special payments to certain shareholders including its two co-founders and two early backers. The sticking point has been the differential payments.