EU Clears Facebook's $19 bn Buyout of WhatsApp
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-billion (15-billion-euro) 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".
Source: Agence France Presse
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