Google’s $2.1 billion Fitbit deal hits roadblock…

Google’s $2.1 billion Fitbit deal hits roadblock…

BRUSSELS (Reuters) – Alphabet (NASDAQ:GOOGL) unit Google’s bid to take on Apple (NASDAQ:AAPL) and Samsung (KS:005930) in the wearable technology market by buying Fitbit (NYSE:FIT) hit a hurdle on Tuesday as EU antitrust regulators launched an investigation into the $2.1 billion deal.

The EU antitrust enforcer said the data pledge was insufficient to allay its worries.

“The proposed transaction would further entrench Google’s market position in the online advertising markets by increasing the already vast amount of data that Google could use for personalisation of the ads it serves and displays,” the Commission said.

It singled out online search and display advertising services and ad tech services, where analytics and digital tools are used in digital advertising, as two areas that would be affected by the deal…

Source: Investing

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