snapdeal reported loss of 29.6 billion rupees in the financial year march 31 ,2016 .
india daily business newspaper reported on wednesday , citing sources said that snapdeal under talks with local paytm e-commerce limted and flipkart for a potential sale .
however , snapdeal spokesperson denied the report made by india daily newspaper .
the spokesperson told that , this report is baseless and snapdeals's decisive progress is to make profitable online marketing site ,in his email to mint .
the news paper reported that , japan's softbank group leading the sales talks with the parent organisation called jasper infotech private ltd
softbank is expected to injected upto $ 50 millionuntil the deal is finallised.
snapdeal , flipkart and paytm are not availble for any immediate comments .
in order to turn more profits while competiting with homegrown flipkart and amazon US internet giant . snapdeal lays 600 employees and their salaries too forego.
snapdeal already steep discounts and more offer to increase the profit margin .
Deathday coming soon
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