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US regulators would have taken too long to approve the sale based on how it would affect personal information, the Chinese consortium that wants to buy Opera said.

 

By Stine Jacobsen and Paul Carsten July 18, 2016

 

(Reuters) - A $1.2 billion takeover of Opera Software by a group of Chinese internet firms fell through on Monday after failing to get regulatory approval in time, sending the Norwegian browser firm's shares to a seven-month low.

 

The deal needed a green light from the United States and China, and one firm in the Chinese consortium said U.S. privacy concerns would have led to an investigation into some of Opera's products that risked delaying the acquisition for up to a year.

 

Opera and the Chinese group have instead come up with an alternative deal worth $600 million which strips out some products and services in a bid to overcome regulatory hurdles.

 

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Ouch...a good thing I think as who knows what the Chinese would have done with what is a fine browser. Well done the Norwegians... but I fear that it is only a temporary reprieve...and that eventually the 'deal' will be done...mores the pity. :(

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