Chinese internet firms extend $1.23 billion cash offer for Norway's Opera Software

Reuters News
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Posted: Apr 14, 2016 10:44 AM

OSLO (Reuters) - A group of Chinese internet firms who made a cash offer in February for Norwegian mobile phone browser Opera Software, valuing it at $1.23 billion, have extended the offer as it had not reached the required level of acceptances.

The group said on Thursday it had received acceptances representing 72.19 percent of shares in Opera Software, below the required level of more than 90 percent. The offer is now extended to May 24, it said.

The buyers include U.S.-listed web search and security firm Qihoo 360 and Beijing Kunlun Tech, a distributor of online and mobile games.

(Reporting by Gwladys Fouche, editing by Camilla Knudsen)