Get App
Download App Scanner
Scan to Download
Advertisement
This Article is From Dec 18, 2019

Google $2.6 Billion Looker Takeover Probed by U.K. Watchdog

(Bloomberg) --

The U.K. formally announced a merger probe into Google's $2.6 billion takeover of Looker Data Sciences Inc. a week after its antitrust watchdogs raised concerns about Amazon.com Inc.'s purchase of a minority stake in Deliveroo.

The Competition and Markets Authority said in a Tuesday statement it will verify whether the Alphabet Inc. unit's acquisition might substantially weaken competition.

The CMA said it set a Feb. 13 deadline to take a decision in this first phase review. U.S. regulators cleared the deal last month.

Google Facing New Front With U.K. Probe Into $2.6 Billion Deal

The British competition regulator is taking a tough look at technology deals. U.K. watchdogs last week threatened Amazon with an extended competition review of its Deliveroo deal unless the e-commerce giant addressed concerns that customers, restaurants and grocers would face higher prices.

Google announced in June that it planned to buy U.S.-based Looker for its cloud unit, which lags far behind Amazon and Microsoft Corp. with just 4% of the cloud-computing infrastructure market as of 2018, according to the most-recent figures from analyst Gartner Inc. U.S. regulators cleared the deal in November.

To contact the reporter on this story: Gaspard Sebag in Paris at gsebag@bloomberg.net

To contact the editors responsible for this story: Anthony Aarons at aaarons@bloomberg.net, Peter Chapman, Nate Lanxon

©2019 Bloomberg L.P.

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.

Newsletters

Update Email
to get newsletters straight to your inbox
⚠️ Add your Email ID to receive Newsletters
Note: You will be signed up automatically after adding email

News for You

Set as Trusted Source
on Google Search