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Paytm to Acquire FreeCharge, Signs Non-Exclusive Term Sheet
May 12, 2017
India’s largest digital wallet company FreeCharge has signed a non-exclusive term sheet with Snapdeal’sFreecharge in an all-cash deal reportedly. According to the sources, Paytm will begin the formal procedure next week itself and if the deal which is estimated to be around $45 million to $90 million goes through, then the acquisition could be completed within a month.
Currently, Paytm is in talks with Soft-Bank to raise a $1.9 billion funding which could make its evaluation anywhere between $8 billion to $9 billion, and also help it in the acquisition.
