SoftBank approves Snapdeal's merger with Flipkart: Report

Japan's SoftBank, the largest investor in Snapdeal, has given an in-principle, non-binding approval for the e-commerce startup's merger with rival Flipkart, according to a CNBC report. SoftBank has given an in-principle nod to hold 20% stake in the merged entity and has also approved a plan to buy out Snapdeal’s existing investors ahead of the potential merger, the report added.