Snapdeal board has approved Flipkart's USD 900-950 million buyout offer, sources told CNBC-TV18. The deal now requires Snapdeal shareholder's approval.
On July 17, Flipkart has made a revised offer to Snapdeal, which did not include its subsidiaries like FreeCharge, Vulcan Express and Unicommerce.
Infibeam is not likely to be part of the deal, as per the sources.
Snapdeal and Flipkart board are expected to meet this week to sign the Term Sheet and finalise the deal.