Google, DoubleClick deal OK: EU
p2pnet news | Advertising:- Google’s $3.1 billion buy of online advertising group DoubleClick will probably go through without conditions, "a source familiar with European Commission antitrust procedures," says, according to Dow Jones.
"European approval of the deal, which rival Microsoft Corp. (MSFT) has said would hurt competition, would be the last hurdle in Google’s bid to buy DoubleClick, a transaction that would enable Google to expand beyond search ads into the online display advertising market," says the story, adding:
"The source noted that Google had not received a formal ’statement of objection’ from DG Competition, the EC directorate general that oversees competition law, with less than four weeks to go until the European Commission’s April 2 deadline for ruling on the acquisition. The deal was first announced in April 2007.
Opponents say combining Google’s dominance in search advertising with DoubleClick’s strength in display ads could potentially give Google an unassailable lead in the Net ad market, says Dow Jones, adding:
"Microsoft moved to close the gap with Google last month by making an unsolicited $44.6 billion offer to buy struggling Internet giant Yahoo Inc."
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Also See:
Dow Jones – EU Expected To OK Google-DoubleClick Deal Without Conditions, March 5, 2008
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