Facebook’s Instagram Deal Cleared by U.K. Antitrust Regulator
By Erik Larson -
2012-08-14T12:54:47Z
Facebook Inc. (FB), the world’s biggest social-networking company, was cleared by Britain’s Office of Fair Trading to complete its proposed $1 billion purchase of the mobile photo-sharing application company Instagram.
The watchdog decided not to refer the deal to the U.K. Competition Commission, where it would have been subjected to a full investigation, the OFT said in a statement on its website today. Facebook said in April it would buy the 2-year-old startup to lure users of mobile devices.
U.S. regulators haven’t made a decision on the proposed deal.
To contact the reporter on this story: Erik Larson in London at elarson4@bloomberg.net
To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net
Sponsored Link
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.