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Major News and Events of 28 March 2017

What Happened on 28 March 2017


SoftBank Pushes for a Merger Between Flipkart and Snapdeal

As per reports, Japanese giant SoftBank has called for a merger between Flipkart and Snapdeal. SoftBank is likely to acquire around 15% shares in the merged entity of Snapdeal and Flipkart. SoftBank currently owns 30% shares in Snapdeal being the largest investor. Flipkart which is based out of Bangalore is estimated to be valued at $10-11 billion.

Flipkart would be getting a strong anchor investor in form of SoftBank’s arrival giving it the required footing to battle Amazon.

Fire at Pune's National Chemical Laboratory Leads to Property Loss

As per reports, massive fire broke out at Pune’s National Chemical Laboratory in Pashan area on late Monday evening and led to the loss of property. However, casualties or injuries were not reported.

The reason of the blaze is still unknown; however, a committee has been set up to probe the reason of the fire.

10 fire tenders and 50 jawans rushed to the spot and fought fire for around an hour.