Saturday, 04 October 2014 - 12:16
EU clears Facebook's US$19-billion buyout of WhatsApp
European Union regulators 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 dollar 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".
Facebook, the world's biggest social network, announced the buyout of the WhatsApp messenger service, used by 600 million people, in February and US authorities approved the deal in April.