Google and Yahoo willing to acquire Rediff

Google and Yahoo are trying to acquire Rediff.com India Ltd, which runs one of India’s most popular consumer Internet portals. Rediff is one of the India based Nasdaq-listed company and they are in talks with the global companies for a negotiated takeover deal.

It has to be noted that India is now emerging as a strong global economy with a growth in both telephone penetration and Internet in urban areas. Rediff.com is an online provider of news, email communication, entertainment and shopping services.

Rediff’s stock took a sharp jump in share price and volume on Nasdaq during the last week. On July 12, Rediff shares  closed at $26.46 and more than 3.3 million shares traded hands. The company has a current market capitalisation of $738 million. It is speculated that if the deal gets through then the valuation may be close to $1 billion dollars.

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