The $1.24bn buyout of Norwegian browser company Opera Softwareby a consortium of Chinese buyers has joined the list of deals originating in China that have come to grief this year.
Several outbound transactions struck by private Chinese companies have struggled to gain approvals to move funds offshore before deadlines, resulting in the death or near-death of the transactions. Others have come undone without explanation.
For Opera, the deadline passed on the original deal without the necessary government approvals, the company said in a statement without elaborating.
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