Competition Commission of India clears MakeMyTrip-ibibo merger

The proposed merger of online travel agencies MakeMyTrip Ltd and ibibo Group has inched closer to completion with the Competition Commission of India approving the transaction. MakeMyTrip received a letter from the anti-trust watchdog clearing the merger on Friday, the NASDAQ-listed company said in a filing to the US Securities and Exchange Commission. MakeMyTrip and […]

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Flipkart, Amazon drop $1 bn Souq acquisition bid: Report

Snapdeal_flipkat_amazonUS-based Amazon.com Inc and Indian online retailer Flipkart have dropped a bid to acquire Middle East-based horizontal e-commerce venture Souq.com due to a disagreement over price, Bloomberg reported on Wednesday. Souq.com has now reached out to Dubai-based mall company Majid Al Futtaim, the report said, citing two people aware of the development. Amazon had started […]

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Internet firm Naspers sets up India office for investments, M&As

Ashutosh_SharmaSouth African media and internet conglomerate Naspers Ltd has hired Ashutosh Sharma from venture capital firm Norwest Venture Partners (NVP) to head its investment arm in India. Sharma has been appointed as India head –  investments and M&A at Naspers Ventures, according to his LinkedIn profile. “Ashutosh Sharma joined the Naspers Ventures team on October […]

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Naspers: Master of consolidation in Indian Internet business

For-Naspers-Story_ThinkstockPhotos-5861837382Consolidation is not an unfamiliar word for new-age Internet businesses. It signals a maturing of the industry after a burst of innovation backed by venture capital money. If the roughly decade-old history of Indian Internet industry is scanned, the real take-off with consumer adoption started only around 2010-11. Around the same time, a little known […]

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Online payments firm PayU to buy rival Citrus Pay for $130 mn

Online payments company PayU, owned by South African Internet conglomerate Naspers, has agreed to buy Mumbai-based rival Citrus Pay for

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