FINTECH
Prosus slips the Indian leash as BillDesk deal is terminated
Pulling out of the $4.7bn acquisition may have prevented a long court battle
Prosus’s decision to avoid a $4.7bn headache doesn’t seem to have been initially well received by investors. In the first few hours after the shock announcement that it was pulling out of the much-trumpeted acquisition of India-based BillDesk, the shares of both Prosus and Naspers edged down slightly. Few seemed to realise what a lucky and close miss this was — rather like the aborted Just Eat and eBay deals back in 2020.
It may have been because investors were nervous about the details behind the decision and the possibility of a drawn-out legal battle with BillDesk’s shareholders. Those shareholders are likely to be extremely disappointed about the collapse of India’s biggest fintech payment deal. Or perhaps the announcement highlighted the limited number of options Prosus has in its bid to escape the very long shadow cast by Tencent...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.