Chinese group's $1.2 billion takeover of Opera falls through

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A Chinese consortium of internet companies has failed to acquire
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over lack of regulatory approval, according
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. The Norwegian software maker is now selling off its browser business for $600 million.


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The
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to fully acquire Opera in February, and the move was
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in the month of May. With the deal falling through at the regulatory level, Opera is now selling its desktop and mobile browser business. The Chinese group comprised of mobile game distributor Kunlun and security firm Qihoo, along with investment funds Golden Brick and Yonglian.

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