Author: Deal Street Asia Online News

China tells e-commerce firms to regulate promotional phone messages

China‘s industry ministry on Tuesday said that it had told e-commerce giants Alibaba, JD.com and Pinduoduo to regulate their use of promotional phone messaging to users ahead of the annual June 18 shopping festival. The directive, delivered during what the ministry said was a meeting on June 11, is the latest move in an ongoing regulatory clampdown on China‘s booming “platform economy”.… Continue reading China tells e-commerce firms to regulate promotional phone messages

India: Global Consumer Acquisition Corp raises $170m in NASDAQ listing …

Global Consumer Acquisition Corp (GCAC), a blank cheque company backed by private equity veteran Rohan Ajila, and Gautham Pai, chairman of The Manipal Group, has raised $170 million as part of an initial public offering (IPO) this week. The company, which listed on NASDAQ under the symbol ‘GACQU’ this week, is a special purpose vehicle… Continue reading India: Global Consumer Acquisition Corp raises $170m in NASDAQ listing …

SG data centre provider Digital Edge acquires Indonesian IT firm Indonet for $165m …

Singapore-based data centre provider Digital Edge has acquired a controlling stake in Indonesian digital infrastructure service provider Indonet for $165 million, per an announcement. The acquisition has been routed through Digital Edge’s Hong Kong subsidiary and it will enable the newly-established company in the city-state to develop sophisticated solutions for cloud, and financial service customers.… Continue reading SG data centre provider Digital Edge acquires Indonesian IT firm Indonet for $165m …

Malaysia’s Axiata says merger with Telenor to be sealed within days

Malaysian telecoms firm Axiata Group Bhd and Norway’s Telenor ASA will seal a deal to merge their Malaysian mobile operations within days, Axiata‘s CEO said on Tuesday. Both companies have concluded the due diligence process and are hopeful to sign the agreement soon, Izzaddin Idris told a virtual briefing with reporters. “The signing is a matter of days or a week,” he added. Idris said shareholders… Continue reading Malaysia’s Axiata says merger with Telenor to be sealed within days

India’s antitrust watchdog to expedite Amazon, Flipkart probe

India’s antitrust watchdog plans to expedite a restarted probe into allegations of anti-competitive behaviour at Amazon.com Inc’s and Walmart Inc’s Flipkart, as it intensifies scrutiny of big-tech firms, two people close to the matter said. The comments come as major U.S. technology firms including Twitter Inc and Facebook Inc are at loggerheads with the government… Continue reading India’s antitrust watchdog to expedite Amazon, Flipkart probe

India: Flexmoney raises $4.8m funding led by Pravega Ventures

Flexmoney, a full-lifecycle digital credit network platform for lenders and merchants to offer frictionless, secure checkout finance, has raised $4.8 million in its Series A funding, the company said in a statement. The round was led by Pravega Ventures and saw participation from Silicon Valley-based Z5 Capital. The round also saw participation from several individual… Continue reading India: Flexmoney raises $4.8m funding led by Pravega Ventures

Macquarie Infrastructure signs deal to sell MIC Hawaii unit

Macquarie Infrastructure Corp (MIC) said late on Monday it signed a deal to sell its MIC Hawaii unit to an affiliate of investment manager Argo Infrastructure Partners. The development comes a week after MIC announced plans to sell its private aviation services network Atlantic Aviation. “The terms of the merger agreement correspond to an enterprise value for MIC Hawaii of $514 million including assumed debt and transaction… Continue reading Macquarie Infrastructure signs deal to sell MIC Hawaii unit

Alibaba Health-backed medical data company LinkDoc files for US IPO …

LinkDoc Technology Ltd, a medical data company backed by a subsidiary of Alibaba Health Information Technology Ltd, filed for an initial public offering in the United States on Monday. The Beijing-based company, which offers cancer-focused healthcare services, reported a 41% jump in revenue for the three months ended March 31, according to the filing. For… Continue reading Alibaba Health-backed medical data company LinkDoc files for US IPO …