Prosus, which already owns PayU, cancelled its $4.7 billion acquisition of BillDesk

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Prosus Ventures cancelled its $4.7 billion acquisition of BillDesk, the European technology giant’s largest acquisition, citing “certain precedent conditions” that were not met, in a surprising move a month after the proposed acquisition was approved by the local antitrust watchdog.

The all-cash deal, announced at the peak of the bull cycle last year, was to be the second largest M&A transaction in the South Asian market’s consumer internet space. Many promised deals have fallen through globally in recent quarters as the market has turned. Prosus, which has invested over $5.5 billion in India, has also lost a significant amount of value in the last year. In recent months, it has sold stakes in other companies (Tencent and JD.com).

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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.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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Prosus, which already owns PayU, cancelled its $4.7 billion acquisition of BillDesk

Prosus Ventures cancelled its $4.7 billion acquisition of BillDesk, the European technology giant’s largest acquisition, citing “certain precedent conditions” that were not met, in a surprising move a month after the proposed acquisition was approved by the local antitrust watchdog.

The all-cash deal, announced at the peak of the bull cycle last year, was to be the second largest M&A transaction in the South Asian market’s consumer internet space. Many promised deals have fallen through globally in recent quarters as the market has turned. Prosus, which has invested over $5.5 billion in India, has also lost a significant amount of value in the last year. In recent months, it has sold stakes in other companies (Tencent and JD.com).

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.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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