EU clears Facebook’s $19b buyout of WhatsApp
Sunday, 5 October 2014
BRUSSELS, Oct 4 (AFP): European Union regulators on Friday cleared the buyout of the WhatsApp mobile messaging service by Facebook, despite opposition by telecom companies afraid of the growing power of US technology giants.
In a statement explaining its approval of the $19-billon (15-billion-euro) deal, the European Commission, the EU's executive arm, said Facebook and WhatsApp were "not close competitors" and that consumers would continue to have a "wide array of choices".
"We have carefully reviewed this proposed acquisition and come to the conclusion that it would not hamper competition in this dynamic and growing market," EU Competition Commissioner Joaquin Almunia said in a statement.