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Japan's SoftBank buys $627 million stake in Indian online retailer Snapdeal

2014-10-28 06:11:39| IT Services - Topix.net

Japanese telecom and media group SoftBank Corp has agreed to buy a $627 million stake in Indian online retailer Snapdeal, seeking to tap into potentially huge e-commerce growth in the market with the world's third-biggest Internet user base. Highlighting India as a new priority in its aggressive expansion, SoftBank said on Tuesday it's also leading a $210 million round of investment in an Indian logistics business in a separate deal.

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