Chinese acquisition of Opera falls through, to sell browser business instead

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The deal by the Chinese consortium  of Internet companies to acquire Opera, makers of the Opera Mini browser for mobile devices, for $1.2 billion has fallen through after failing to gain US regulatory approval over privacy concerns. 


Although Opera and the Chinese Consortium have come up with an alternative arrangement which would see Opera sell its desktop and mobile browsers business to the consortium for about $600 million. The new deal would see them avoid a lengthy 6 months  to one year wait for the US regulators to carry out their investigations. The new deal would see Opera retain control of their advertising and marketing business, TV operations, and non-game related apps while selling the browser business, its performance and privacy app business, its technology licensing business and stake in nHorizon.

Source: Reuters