CCI clears PayU's $4.7 billion BillDesk acquisition after a year

BillDesk, founded in 2000, is an Indian success story and one of the leading payment businesses in the country

After a year since PayU announced the acquisition of payment gateway provider BillDesk for $4.7 billion, the Competition Commission of India (CCI) has finally allowed one of the largest deals in the fintech space.  

The CCI confirmed this news through a tweet. It said: "Commission approves the 100 per cent of equity share capital of Indiaideas.com (BillDesk) by PayU Payments."

The antitrust watchdog had been scrutinising the deal since it was announced on August 31 last year; many industry players and competitors had expressed concern that the PayU-BillDesk merger could lead to a potential monopoly in the segment. 

Earlier this year, the CCI