A PYMNTS Company

EU: Facebook cleared for WhatsApp buy after in-depth probe

 |  October 5, 2014

After launching an in-depth investigation of Facebook’s $19 billion purchase of WhatsApp, the European Commission has reportedly approved of the transaction.

Facebook first announced plans to acquire the mobile messaging application earlier this year. Since, some consumer and privacy advocates had raised concerns over what Facebook would do with users’ information received through WhatsApp.

But the Commission could only focus on the effects on competition the deal would have and, after probing the merger, said that the merged company “would continue to face sufficient competition.”

Full content: ABC News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.