Opera puts TV business up for sale

Opera Software has confirmed that it has put its TV business on the block.

The company said that it had “for some time been in discussions to divest its TV business, in order for the TV business to achieve its full potential under a different ownership structure”, but that “no agreement has yet been made nor is certain to be made”.

Opera said that sale was part of a broader strategic review.

The announcement came as Brick Silk Road (Shenzhen) Equity Investment Fund II launched a cash offer for 100% of Opera’s shares following the agreement between the pair in February.

The Chinese group’s offer represents a premium of about 53% on Opera’s share price as of February 5. The offer was unanimously recommended by Opera’s board, with owners of about a third of the company’s shares undertaking to accept ahead of the offer being launched.