This comes after a year-long wait for the Prosus-owned PayU which has had to answer several questions from the regulator over the past year since the deal was officially announced in August 2021. A Business Standard report last month said that CCI had sent a show cause notice to
PayU India as it scrutinised the deal.
ET had reported in February this year that CCI had sought more information on the deal and its implications from PayU.
The deal —pegged as the second-largest buyout in the Indian internet sector after Walmart’s $16-billion acquisition of ecommerce major Flipkart in 2018 — will involve the merger of the payments gateway business of two of the country’s largest players and securing clearance from the Competition Commission of India (CCI) is important, the sources said.
CCI has sought more information on the deal and its implications from PayU, people cited above told ET.
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PayU had filed a revised merger notification in April this year after CCI made its original filing invalid for lack of adequate information,
as reported by ET.