Snapdeal

The e-commerce firm said it was ending all talks regarding a sale Flipkart and would remain independent, ending months of negotiations around the deal valued at up to $950 million.

An approved bid would give heft to Flipkart in its high-stakes battle with Amazon.com Inc.

The offer could lead to a final agreement between India’s two largest local e-commerce providers within three weeks.

The company's planned acquisition of its rival Indian e-commerce provider Snapdeal has hit a snag that may put the deal in jeopardy.  

Several important investors have yet to sign on to the deal, which could create a stronger local competitor to battle Amazon in India's e-commerce market.