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Axis Bank May Acquire FreeCharge; In Talks
July 12, 2017
According to a report, private sector lender Axis Bank is planning to acquire digital payments platform FreeCharge which is currently owned by e-commerce portal Snapdeal. Although neither Axis Bank and FreeCharge has made any public disclosure, three insiders have reported that the former is conducting due diligence of the latter.
It’s worth noting that FreeCharge has been looking for a buyer for many months now, while the troubled parent company Snapdeal itself is in negotiations for its own sale.
According to sources, Snapdeal may give Freecharge away for as much as $100 million.
