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Business News/ Industry / Telecom/  EU clears Facebook’s $19 billion buyout of WhatsApp
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EU clears Facebook’s $19 billion buyout of WhatsApp

EU regulators say Facebook, WhatsApp were not close competitors and that consumers would continue to have a wide array of choices

European Union regulators on Friday cleared the buyout of the WhatsApp mobile messaging service. Photo: AFPPremium
European Union regulators on Friday cleared the buyout of the WhatsApp mobile messaging service. Photo: AFP

Brussels: European Union regulators on Friday cleared the buyout of the WhatsApp mobile messaging service by Facebook, despite opposition by telecom companies afraid of the growing power of US technology giants.

In a statement explaining its approval of the $19-billon (€15-billion) deal, the European Commission, the EU’s executive arm, said Facebook and WhatsApp were “not close competitors" and that consumers would continue to have a “wide array of choices".

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Published: 03 Oct 2014, 03:54 PM IST
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