The Competition Commission of India (CCI) on Thursday has approved Google’s proposed acquisition of a minority stake in telecom major Bharti Airtel. The deal has been cleared on the basis of modifications offered by the acquirer, according to an official release. Google International and Airtel have entered into an investment agreement to buy a minority […]
28
Jun
Jun
The National Company Law Tribunal (NCLT) on Monday reserved its order on the petition filed by Amazon opposing Bank of India’s plea to initiate insolvency resolution proceedings against debt-ridden Future Retail (FRL). After hearing the arguments of Amazon and Bank of India (BoI) on Monday, the tribunal directed the e-retailer to submit its written response […]
27
Jun
Jun
The company planning to buy Donald Trump’s new social media business has disclosed a federal grand jury investigation that, it says, could impede or even prevent its acquisition of the Truth Social app. Shares of Digital World Acquisition dropped 10 percent in morning trading on Monday as the company revealed that it has received subpoenas […]
24
Jun
Jun
Online food delivery platform Zomato on Friday said it will acquire Blink Commerce (formerly known as Grofers India) for a total purchase consideration of Rs 4,447.48 crore in a share swap deal.The company’s board at a meeting held on Friday has approved acquisition of up to 33,018 equity shares of Blink Commerce from its shareholders for […]
21
Jun
Jun
Blockchain-based payments company Roxe Holdings is nearing a deal to go public through a merger with blank check company Goldenstone Acquisition Limited at a combined valuation of $3.65 billion (nearly Rs. 28,500 crore), according to people familiar with the matter. The deal bucks an unfavorable market environment with cryptocurrencies plunging in value and investors largely […]
21
Jun
Jun
Twitter’s board has recommended unanimously that shareholders approve the proposed $44 billion (roughly Rs. 3,43,500 crore) sale of the company to billionaire and Tesla CEO Elon Musk, according to a regulatory filing Tuesday. Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter employees, though shares of Twitter […]
20
Jun
Jun
India’s market regulator on Monday fined Reliance Industries and two of its compliance officers for violating fair disclosure norms during Facebook’s $5.7 billion (nearly Rs. 44,400 crore) investment in its digital unit in 2020. In April 2020, Meta‘s Facebook invested $5.7 billion in Reliance‘s Jio, aiming to allow WhatsApp to offer payments services to millions […]
14
Jun
Jun
Spotify on Monday announced it has formed a Safety Advisory Council to provide third-party input on issues such as hate speech, disinformation, extremism and online abuse. The group represents another step in Spotify’s efforts to deal with harmful content on its audio streaming service after backlash earlier this year over The Joe Rogan Experience, in which the […]
13
Jun
Jun
An Indian appeals tribunal on Monday rejected Amazon’s appeal against an antitrust suspension of its $200 million (roughly Rs. 1,561 crore) investment deal with Future Group, saying the US company concealed information when it sought approval in 2019. India’s antitrust agency issued the suspension in December, stating that Amazon suppressed the actual scope of the […]
08
Jun
Jun
Elon Musk’s efforts to arrange new financing that will limit his cash contribution to his $44 billion (roughly Rs. 3,41,800) acquisition of Twitter have been put on hold because of the uncertainty surrounding the deal, people familiar with the matter said. Musk has been threatening to walk away from the deal unless the social media company provides […]