Singapore's Carousell valued at more than $850 million on merger with Telenor unit

SINGAPORE (Reuters) - Online classifieds business Carousell said it has agreed to merge with a subsidiary of Norwegian telecoms firm Telenor Group , valuing the combined company at more than $850 million (657.59 million pounds).Carousell will merge with Telenor's 701Search, which owns online marketplaces Mudah in Malaysia, Cho Tot in Vietnam, and OneKyat in Myanmar, as part of the equity and cash agreement, it said in a statement on Thursday.Telenor will become the single-largest minority..