Chinese Consortium's $1.2 Billion Deal to Buy Opera's Ad Business Falls Through

Privacy concerns around app maker were sticking point

A purposed acquisition from three Chinese internet firms to buy mobile giant Opera for $1.2 billion has fallen through.

In February, the trio of firms—Qihoo 360, Kunlun and Golden Brick Silk Road—announced that it had put in an offer to acquire Opera (including both its web browser product and advertising assets). Opera's board of directors then sent a note to investors recommending that they take the buyout offers.

Now, questions from U.S. authorities around privacy concerns in Opera Mediaworks—the company's advertising arm—caused part of the deal to fall through, reports Reuters.

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