Background information On 3 October 2014 the European Commission ("Commission") unconditionally clears in first phase the €14 billion acquisition of WhatsApp by Facebook (the “Transaction”). The Transaction was already conditionally authorized in April 2014 by the US Federal Trade Commission ("FTC"), which required WhatsApp to adhere to the agreement reached in 2012 between Facebook and FTC. As a result of this agreement, Facebook undertook to give consumers notice and obtain consent before sharing their information and to set a privacy programme to protect consumer's information. The Commission's approval is deemed the last regulatory hurdle before the closing of the deal. Facebook and WhatsApp (“the Parties”) are two US based firms. Facebook provides social networking services to 1.3
Share on
|
|
The EU Commission unconditionally clears the acquisition of a real-time messaging services provider by social networking company (Facebook / WhatsApp)
Access to this article is restricted to subscribers
Already Subscribed? Sign-in
Access to this article is restricted to subscribers.
Read one article for free
Sign-up to read this article for free and discover our services.
