siliconindia--Sequoia calls off Indiatimes deal

"Sequoia Capital has called off its deal to partner WestBridge Capital in their proposed joint investment into Times Internet that operates the Indiatimes.com portal and e-commerce service. The VC firms had planned to pick up 15 percent of Indiatimes' equity, however the deal did not materialize beyond talks and now only WestBridge has taken a 2.9 percent stake"