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Report: Indian payments firm's sale talks with suitors fall through

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Report: Indian payments firm's sale talks with suitors fall through

Indian online payments company BillDesk's talks with PayU Payments Pvt. Ltd., American Express Co. and PayPal Holdings Inc. for a sale fell through due to differences over valuation, Mint reported, citing "three people familiar with the matter."

BillDesk is seeking a valuation of US$1.5 billion to US$2 billion, but the suitors were unwilling to meet the asking price, the people added.

BillDesk is a property of IndiaIdeas.com Ltd. and provides payment solutions for e-commerce, financial services and retail clients. It is backed by private equity firms TA Associates and General Atlantic, venture capital firm Clearstone Venture and Singapore-based Temasek Holdings.

BillDesk, American Express and PayPal did not respond to requests for comment, while PayU declined to comment, the publication reported.