A year after the deal was announced, the Competition Commission of India (CCI) on Monday said it has approved payments major PayU’s acquisition of online payments firm BillDesk for $4.7 billion.
The PayU-BillDesk deal is pegged as the second largest purchase in the Indian internet sector after Walmart’s acquisition of e-commerce major Flipkart for $16 billion in 2018. This will include the merger of the payment gateway business of two of India’s biggest players.
The competition watchdog has sought more details about the $4.7 billion buyout of BillDesk by PayU India.
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