Just Dial Shares Spike 20% As Google Shows Interest To Acquire Company

Just Dial's share price rallied 20 percent intraday Friday after a media report indicated that US internet giant Google may acquire the company.

"Google, a subsidiary of parent Alphabet, has been talking to Just Dial for an acquisition for some time. Both the companies entered into exclusive talks about two months ago,” Business Standard said quoting an investment banker familiar with the discussions.

“It may take some more time before the discussions are finalised,” the report added.

The report said, "While Google has been adding local listings to its database organically, acquiring Just Dial will provide it with a database of 20 million pan-Indian listings."

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