Prosus Cancels $4.7 Billion Acquisition of India’s BillDesk
- Deal failed to meet certain conditions of the takeover
- BillDesk will pursue all options to keep deal: sources
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Prosus NV has canceled a $4.7 billion deal to buy Indian payments firm BillDesk after a collapse in valuations for major tech startups.
The deal, set to be the largest acquisition by Prosus, was canceled after “certain conditions precedent” weren’t met by the end of September, Prosus said in a statement on Monday. The company didn’t elaborate on the conditions.