Pursuits
Opera Plunges as $1 Billion Buyout by Chinese Group Fails to Get Approval
- Takeover canceled as government approval didn’t materialize
- Chinese consortium paying $600 million to get browsers
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Opera Software ASA fell as much as 17 percent after its sale to a Chinese group failed to get government approval and was canceled, and the company instead agreed to sell its web-browser business for $600 million.
The Norwegian company will sell businesses including browsers for mobile devices and desktops, technology licensing and a stake in a Chinese venture to the same group that attempted the full takeover, led by private-equity firm Golden Brick Capital Management Ltd., according to a statement Monday. Opera will keep businesses such as applications and games.