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Axis Bank to buy FreeCharge from Snapdeal

Axis Bank to buy FreeCharge from Snapdeal

FreeCharge owned by e-commerce platform Snapdeal has been acquired by Axis Bank for $60mn. This is a big drop from the $400mn that Snapdeal paid for it in 2015- India's biggest acquisition till then. FreeCharge had been struggling on many fronts. Since December 2016, various players have been vying to acquire the firm, including Paytm, MobiKwik, Amazon, PayPal, Airtel Money, and Naspers.

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