India’s competition regulator Competition Commission of India (CCI) is seeking additional information regarding the proposed $4.7 billion acquisition of Indian fintech BillDesk by payments giant PayU India, according to multiple sources.
The Prosus-backed multinational is seeking additional support from consulting firms on the subject. Prosus is the Dutch-listed subsidiary of South African conglomerate Naspers.
The notice filed by PayU in August 2021 associated with the acquisition has been classified as ‘Notice Not Valid’ on the CCI website. This generally suggests that the watchdog is unsatisfied with the application and has asked for additional information to cover all concerns.
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