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Snapdeal board to meet today, to convince Nexus Venture on stake sale

At a luxury hotel in Gurgaon today, seven board members of Snapdeal will meet to discuss the final contours of the sale of the e-commerce firm to Bangalore-based rival Flipkart, sources privy to the discussion told Moneycontrol. The deal which has been in works for last few weeks is stuck due disagreement within stakeholders over final settlement for the company's earliest investors.

According to a person privy to the development, the board will focus on bringing Nexus Venture Partners one of the early investors in Snapdeal to agree to the deal to sell the company. The meeting is also likely to bring clarity to the fate of over 1,000 existing employees of Snapdeal.

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