Wednesday, February 15, 2012

US, EU approve Google's $16b Motorola takeover

In this Jan 10, 2012 file photo, industry affiliates examine various apps on Motorola tablets during the 2012 International CES tradeshow, in Las Vegas. The EU's antitrust watchdog has approved Google's US$12.5 billion (S$15.7 billion) takeover of mobile phone maker Motorola. -- PHOTO: AP

WASHINGTON (AFP) - The United States Justice Department's antitrust division gave the green light on Monday to Internet giant Google's US$12.5 billion (S$15.7 billion) acquisition of Motorola Mobility.
The Justice Department announcement, which came hours after European regulators approved the transaction, said it was 'unlikely to substantially lessen competition' or to 'significantly change existing market dynamics.'

In addition to approving the Google-Motorola Mobility deal, the department said it was closing its investigations into the purchase by Apple, Microsoft and Research In Motion of Nortel Networks patents and the acquisition by Apple of Novell patents.
'After a thorough review of the proposed transactions, the Antitrust Division has determined that each acquisition is unlikely to substantially lessen competition and has closed these three investigations,' it said.

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