Axis Bank to buy FreeCharge from Snapdeal for ₹400 crore

Private sector lender Axis Bank has reportedly reached an agreement to buy digital payments platform FreeCharge for ₹350-400 crore in cash from Snapdeal. Axis Bank and FreeCharge are likely to announce the deal this week. According to reports, FreeCharge also received a takeover offer from Paytm but decided to go with Axis Bank as it offered a higher price.