Talks are on to sell Freecharge at 50% discount
Advertisement

Advertisement
Sources suggest the deal could be worth as low as $150-200 million, which is 50% of what FreeCharge is worth. Market leader Paytm, owned by the Alibaba group, is leading the race to acquire its rival from
However, SoftBank's topmost priority is to sort out the shareholder discord that is going on at
Snapdeal's parent company Jasper Infotech bought FreeCharge two years back in a deal worth $400 million, in a combination of cash and stock. In the past year, Freecharge has talked to global payment majors like PayPal and PayU for raising fresh capital, but nothing came through.
Advertisement
"A lot has changed with both Snapdeal and Freecharge in the last quarter.
Flipkart, which has its own mobile wallet called PhonePe that enables UPI transactions, has been in talks with investors like PayPal to raise an independent funding for PhonePe.
Paytm could be paying around $150 million, suggest sources, if Freecharge comes with exclusivity rights, making it the sole payments option on platforms like Snapdeal and Flipkart.
"As these e-tailers have plans to sell financial products in the long term, such exclusivity agreements will help Paytm's financial services business," the person said.
Advertisement
(Image source CouponRupee)Advertisement
Billionaire investor Mark Mobius says he's been able to get his money out of China, but investing in the country is still a 'dilemma' amid national security laws
The Carnival cruise passenger who went overboard and remains missing was on his first cruise and it became his 'happy place,' his fiancée said
The new Barbie movie used so much pink paint on set that it caused an international shortage, according to its production designer
Major train accidents that India witnessed in last 15 years
Odisha rail crash: Rescuers try to raise buried coach, death toll at 238
Largest road networks in the world – India beats China to take the second spot
Manoj Bajpayee joins the league of on-screen lawyers like Pankaj Tripathi, Shriya Pilgaonkar & more
List of famous things to buy in Lonavala