Chinese takeover of Norway’s Opera fails, alternative proposed

By Stine Jacobsen and Paul Carsten OSLO/BEIJING (Reuters) – A $1.2 billion takeover of Opera Software by a group of Chinese internet firms fell through on Monday after failing to get regulatory approval in time, sending the Norwegian browser firm's shares to a seven-month low. The deal needed a green light from the United States and China, and one firm in the Chinese consortium said U.S. privacy concerns would have led to an investigation into some of Opera's products that risked delaying the acquisition for up to a year. The so-called Kunqi consortium, which includes online and mobile games distributor Beijing Kunlun Tech Co and search and security business Qihoo 360 Technology Co, will now buy certain parts of Opera's consumer business.

Original story here.

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