Approval likely next week, sources tell Reuters
The European Union is expected to approve Google Inc.'s $3.1 billion takeover of online advertising company DoubleClick Inc., according to a report today from the Reuters news service.
Citing people familiar with the situation, Reuters said the approval is expected to come next week.
The approval has been expected because the European Commission, the competition watchdog for the EU, said in January it would not formally oppose the deal.
Privacy groups have objected to the deal, saying it would substantially reduce competition.
The European Commission, however, has said it has no authority to consider privacy issues in mergers.
The U.S. Federal Trade Commission approved the merger in December. According to Reuters, the EU has never rejected a merger approved by U.S. authorities.
The takeover is one of several recent mergers in the online advertising marketing.
Microsoft Corp. bought aQuantive Inc. for $6 billion last year; Yahoo Inc. acquired BlueLithium for $300 million; and AOL LLC bought Tacoda Inc., a company that uses behavioral targeting technology, for an undisclosed sum.
The European Union is expected to approve Google Inc.'s $3.1 billion takeover of online advertising company DoubleClick Inc., according to a report today from the Reuters news service.
Citing people familiar with the situation, Reuters said the approval is expected to come next week.
The approval has been expected because the European Commission, the competition watchdog for the EU, said in January it would not formally oppose the deal.
Privacy groups have objected to the deal, saying it would substantially reduce competition.
The European Commission, however, has said it has no authority to consider privacy issues in mergers.
The U.S. Federal Trade Commission approved the merger in December. According to Reuters, the EU has never rejected a merger approved by U.S. authorities.
The takeover is one of several recent mergers in the online advertising marketing.
Microsoft Corp. bought aQuantive Inc. for $6 billion last year; Yahoo Inc. acquired BlueLithium for $300 million; and AOL LLC bought Tacoda Inc., a company that uses behavioral targeting technology, for an undisclosed sum.
