No break-up fee from Prosus after termination of deal with BillDesk

PayU's expansion plans which it had charted out based on the acquisition have been put on hold for over a year

Prosus does not have to pay any ‘break up fee’ after its termination last week of its acquisition of Indian digital payment provider BillDesk for $4.7 billion as no such clause was part of the contract, sources involved in the deal closure have said.

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As per the contract, the agreement is ‘automatically cancelled’ if the deadline for closing it is not extended and, as such, there has been no breach in its terms, they said.

Reports have said that BillDesk could go to court to seek  compensation of up to $100 million for the terminated deal.  Sources said that the board