Google seeks EU approval to buy DoubleClick
BRUSSELS (Reuters) - Google filed with the European Union competition regulator on Friday for permission to buy rival DoubleClick for $3.1 billion, and the deal almost immediately became contentious.
The European Commission said it had set a review deadline of October 26 — when it could approve the deal, give a two-week extension or open an in-depth, four-month investigation.
“We are asking the European Commission to look at the proposed acquisition. We believe this deal is positive for both users and advertisers and fosters competition,” Julia Holtz, Google’s competition counsel, told Reuters.
But rival Yahoo immediately issued its own statement over the deal, seeking an in-depth review.
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