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Horsing around

6 July 2017 By Una Galani

Indian e-commerce firm Snapdeal rejected a $850 mln bid from rival Flipkart. That’s well below a peak valuation of $6.5 bln, so backers like the Japanese firm will suffer. But buyers are scarce, and the price will only go down. Holding out for a unicorn-style $1 bln is a mistake.

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