 "OYO terminates acquisition talks with ZO Rooms")
OYO said that in late-2015 it had explored a potential acquisition of ZO Rooms and the non-binding term sheet for that deal was terminated in September 2016.
"Following this, we tried to identify potential value in their business but could not reach an outcome. We can now confirm that OYO has ended all discussions on the matter," the company said in a statement.
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OYO operates in more than 230 cities across India, Malaysia and Nepal.
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