Opera Software shareholders back Chinese takeover bid: source

Reuters News
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Posted: May 25, 2016 2:02 AM

OSLO (Reuters) - A Chinese consortium bidding for Norway's Opera Software <OPERA.OL> has received acceptance from 91 percent of the company's shareholders, clearing a key hurdle for the $1.24 billion transaction, a source close to the deal said on Wednesday.

To move on with the deal, the buyers had required more than 90 percent acceptance before the May 24 deadline. The deal still depends on approval from U.S. and Chinese authorities however.

The consortium behind the bid includes Chinese firms Qihoo 360 Technology Co Ltd <QIHU.N> and Beijing Kunlun Tech Co <300418.SZ>.

(Reporting by Joachim Dagenborg, writing by Stine Jacobsen, editing by Terje Solsvik)