European Commission competition authorities refused Tuesday to approve Google’s $3.1 billion purchase of DoubleClick, the Internet advertising company, and ordered a further review of the deal that could last till March.
According to this report, the commission said a more thorough investigation of the proposed Google/ DoubleClick acquisition’s impact on the online advertising business is needed, out of concerns for competition in this field.
Google boss Eric Schmidt expressed his disappointment in this decision and emphasized Google is in a real hurry here too because some competitor’s similar deals were already approved... he now wants to show the commission that the DoubleClick deal actually has some benefits to the market. Mashable comments “that’s not quite the end of the road for Google/DoubleClick,” but the plot thickens for Google Inc as some perceive them to become more monopoly-ish.
[Via Jess & Brett at Friendfeed.]
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