Prosus cancels R85bn acquisition of India’s BillDesk

  • 📰 Moneyweb
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 77%

United States News News

United States United States Latest News,United States United States Headlines

Prosus NV has canceled a R85 billion deal to buy Indian payments firm BillDesk after conditions on the deal weren’t met. Moneyweb BusinessNews

Prosus NV has canceled a R85 billion deal to buy Indian payments firm BillDesk after conditions on the deal weren’t met.

The deal had received approval by the Competition Commission of India in September, though “certain conditions precedent” weren’t met by the deadline at the end of last month, Prosus said in a statement on Monday. Prosus’s PayU unit had reached the deal about a year ago, aiming to create a digital payments giant with a total volume of $147 billion and betting on a surge in the industry in India. It would’ve been the company’s biggest acquisition to date.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Prosus cancels R85bn acquisition of India’s BillDeskProsus NV has canceled a R85 billion deal to buy Indian payments firm BillDesk after conditions on the deal weren’t met. Moneyweb BusinessNews
Source: Moneyweb - 🏆 5. / 77 Read more »