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Flipkart signs non-binding term sheet with Snapdeal

India’s e-commerce giant Flipkart has reportedly speeded up its merger with rival Snapdeal by signing a non-binding term sheet with the latter. According to reports, the term sheet was initially signed over the weekend and Snapdeal, run by Jasper Infotech, has been valued at $1 billion. Further, Snapdeal's biggest investor SoftBank has reportedly bought early investor Kalaari Capital's minority stake.

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