Google Seeks Europe’s Permission For DoubleClick Acquisition
By Robert Andrews - Fri 21 Sep 2007 02:13 AM PST
Google (NSDQ: GOOG) has formally submitted its request for permission to buy ad network DoubleClick. Though the $3.1 billion (£1.55 billion) deal was agreed in April, it’s currently being scrutinised by the US’ Federal Trade Commission and was expected to receive European attention, too, after industry concern about consolidation of the two online advertising powerhouses, including sharing of customer profiling data. The European Commission early this month took the unusual step of surveying Google users for their opinion on the buyout, ahead of Google’s permission request going in. The company’s competition counsel Julia Holtz today told Reuters: “We are asking the European Commission to look at the proposed acquisition. We believe this deal is positive for both users and advertisers and fosters competition.”
Posted in: Advertising, Companies, Google, Legal, Regulatory, EC, Money, M&A
