Chinese $1.24 bln takeover of Norway's Opera fails, but alternative deal set

OSLO, July 18 (Reuters) - A Chinese consortium of internet firms has failed to take over Norwegian online browser and advertising company Opera Software in an agreed $1.24 billion deal due to the lack of regulatory approval, Opera said on Monday.

As an alternative, the consortium, which includes search and security business Qihoo 360 Technology Co and Beijing Kunlun Tech Co, a distributor of online and mobile games, has agreed to take over certain parts of Opera's consumer business, including its browser and app operations, for $600 million, Opera said.

(Reporting by Gwladys Fouche; Editing by Muralikumar Anantharaman)