It feels like so long ago that Facebook announced it was acquiring WhatsApp in a deal worth $19 billion in cash and stock, but the deal has just been approved by the European Union.
One of the bigger concerns about the acquisition in Europe was that the deal would hurt the communication in the telecom market, but the EU has said that the acquisition will not impact the competition. European Competition Commissioner Joaquin Almunia said: "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".
Last updated: Jun 16, 2020 at 04:29 pm CDT
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