CCI approves PayU’s $4.7 billion BillDesk acquisition

CCI approves PayU’s $4.7 billion BillDesk acquisition: The Competition Commission of India (CCI) has approved the $4.7 billion acquisition deal between PayU (backed by Prosus) and online payments firm, BillDesk.

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The commission has cleared the acquisition of 100% of the equity share capital of http://IndiaIdeas.com (BillDesk) by PayU Payments.

The PayU-BillDesk deal is pegged as the second-largest buyout in the Indian internet sector after Walmart’s $16 billion acquisition of ecommerce major Flipkart in 2018.