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Flipkart’s Myntra acquisition talks stalled for now and here’s why

Discussions between Flipkart and Myntra for a merger seems to have stalled according to one of the biggest investors in both companies, reports The Wall Street Journal. Subrata Mitra, a partner at Accel Partners which owns stakes in both Myntra and Flipkart told the publication that it is not sure if the deal is going through. Accel Partners and its investment partner, hedge fund Tiger Global Management, own a combined stake of 40% in both companies. The merger is being held back over the status of Myntra following the acquisition. Myntra Chief Executive Mukesh Bansal wants the company to stay independent after the acquisition, but everyone else wants the companies to pool in resources to put up a fight against Amazon. Apart from independence of Myntra, Bansal is also expecting an infusion of $150 million into Myntra so that it…

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