India's Info Edge, Matrimony volatile amid Google Play Store removal report

Info Edge (India)

01/03/2024 07:21

(Adds comments from Matrimony.com in bullet 5)
    ** Shares of Info Edge India  INED.NS , Matrimony.com
 MATI.NS  decline as much as 1.5% and 2.7% to their respective
day's lows, before reversing course 
    ** Reuters reports, citing sources, Alphabet's  GOOGL.O 
Google warned it may remove the apps of 10 Indian cos, including
INED and MATI, for not paying a service fee for using its app
store platform    
    ** INED founder says co received notice from GOOGL; adds, 
compliant with Play Store policies 
    ** INED turns positive after founder's comments 
    ** MATI CEO says co got GOOGL's notice, GOOGL action could
delete all of co's top services
        ** Adds, legal team reviewing and exploring next steps 
  
    ** GOOGL mentions action on Indian companies in its blog
post, without naming them
    ** INED up 2.4% YTD, MATI down 7.2% 
    

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))