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Opera agrees takeover by Kunlun, Qihoo for USD 1.2 bln

2016-02-10 08:15:00| Telecompaper Headlines

(Telecompaper) Opera Software has agreed a takeover offer worth USD 1.2 billion from a consortium of Chinese investments. The bidders are led by Golden Brick Silk Road Equity Investment Fund with the partners Beijing Kunlun Tech, Qihoo 360 Software and Yonglian (Yinchuan) Investment. The cash offer of NOK 71 per share is a 56 percent premium on Opera's average share price in the past 30 days and is the result of a strategic review started by the Norwegian company last August. Opera's board has recommended the offer to shareholders, and a number of large shareholders and management holding in total 33 percent of shares have already agreed to accept the takeover offer. 

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Category:Telecommunications

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