India’s antitrust watchdog approved PayU’s $4.7 billion acquisition of BillDesk

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India’s antitrust watchdog approved PayU’s proposed acquisition of payments gateway BillDesk, the second largest M&A deal in the South Asian market’s consumer internet space.

The Competition Commission of India announced in a tweet that the deal, which will give the Prosus Ventures-controlled firm a clear lead in India’s payments processing segment, had been approved, but provided no further details. In recent quarters, the watchdog thoroughly evaluated the scope of the deal, announced in August last year, meeting with several competitors and other industry players who had expressed concerns about PayU and BillDesk establishing a “potential monopoly” in the country, according to people familiar with the matter.

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India’s antitrust watchdog approved PayU’s $4.7 billion acquisition of BillDesk

India’s antitrust watchdog approved PayU’s proposed acquisition of payments gateway BillDesk, the second largest M&A deal in the South Asian market’s consumer internet space.

The Competition Commission of India announced in a tweet that the deal, which will give the Prosus Ventures-controlled firm a clear lead in India’s payments processing segment, had been approved, but provided no further details. In recent quarters, the watchdog thoroughly evaluated the scope of the deal, announced in August last year, meeting with several competitors and other industry players who had expressed concerns about PayU and BillDesk establishing a “potential monopoly” in the country, according to people familiar with the matter.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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