Merger of Snapdeal and PayTm,True ?

India's e-retail marketplace floated latest news of merger of PayTm with Snapdeal. This is floated all after a month when the talk was initiated between two e retailers.

Exploratory talks had been held on merging Paytm’s marketplace with Snapdeal in an all-stock transaction. 

The Key player who initiated this merging is e-Giant Alibaba, the world’s largest eCommerce company, which has a 40% stake in Paytm and around 3% in Snapdeal.Paytm is the entity of Paytm E-commerce Private Limited, which is raising capital from Alibaba and SAIF Partners. 

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In the event of a merger between Snapdeal and Paytm’s marketplace, Alibaba will emerge as the new entity’s largest shareholder.Paytm, which has a payments bank licence, has a deadline of March 31 to spin off its marketplace, as mandated by the Reserve Bank of India.