India’s Snapdeal buys mobile payments platform FreeCharge

Snapdeal, one of India’s largest online retailers, has bought mobile-payments platform FreeCharge in a deal it hailed as “one of the biggest acquisitions in the history of the internet industry in India”.

Snapdeal, which was valued at about $2bn at its last fundraising, did not disclose the transaction’s size, but estimates from industry figures suggested it was likely to be worth about $400m.

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