Google DoubleClick deal, new scrutiny
November 16, 2007
Google’s proposed £3.1 billion (E4.49bn) purchase of DoubleClick will face an in-depth second-phase review, after the European Commission expressed concerns about competition issues.
The European Commission’s Competition Unit will conduct the investigation under the EU Merger Regulation, after its initial market review indicated competition concerns in the online advertising and intermediation markets. The Commission now has until April go through or whether modifications need to be made.
Eric Schmidt, chairman and chief executive of Google, said the search giant was “obviously disappointed” by the decision to extend the review.