EU Commission Clears Facebook's $19 Billion Bid
Thomson ReutersA Whatsapp icon is seen on a Samsung Galaxy S4 phone screen with a Facebook logo in the central Bosnian town of ZenicaBRUSSELS (Reuters) - European Union antitrust regulators approved on Friday a $19 billion offer by Facebook, the world's most popular social network, for mobile messaging startup WhatsApp.
The landmark deal is the largest in Facebook's 10-year history and will give it a strong foothold in the fast-growing mobile messaging market, pitting it against telecoms companies.
"We have carefully reviewed this proposed acquisition and come to the conclusion that it would not hamper competition in this dynamic and growing market. Consumers will continue to have a wide choice of consumer communications apps," European Competition Commissioner Joaquin Almunia said.
Reuters was the first to report on Sept. 25 that the deal would be cleared unconditionally.
(Reporting by Foo Yun Chee)
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The landmark deal is the largest in Facebook's 10-year history and will give it a strong foothold in the fast-growing mobile messaging market, pitting it against telecoms companies.
"We have carefully reviewed this proposed acquisition and come to the conclusion that it would not hamper competition in this dynamic and growing market. Consumers will continue to have a wide choice of consumer communications apps," European Competition Commissioner Joaquin Almunia said.
Reuters was the first to report on Sept. 25 that the deal would be cleared unconditionally.
(Reporting by Foo Yun Chee)
More from Reuters:
U. If you have any issues relating to where by and how to use whatsapp spy, you can call us at the internet site. N. urges Mali rebels to sign northern peace proposal
U.S. weather forecaster extends likelihood of El Nino through summer
U.N. rights boss seeks campaign to 'discredit ISIL'
Yemen's Houthis seize national dialogue HQ, president insists group must leave Sanaa
Greece cannot rely on ECB to dodge funding crunch