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.