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EU Extends GoogleClick

Google, possibly on the verge of failing to receive approval for its $3.1 billion DoubleClick acquisition, made concessions to the European Union to extend its review of the merger for a possible violation of antitrust law. Antitrust regulators agreed to extend their review--and possibly clear the merger--on the basis of the steps taken by Google.

Google has been fighting for the right to acquire ad-serving giant DoubleClick since April. The merger raised antitrust flags all over the Web industry, as advertisers, competitors and industry watchdog groups expressed their concern that the combined company would have far too much control over pricing in the Web ad market. They also worried that consumer privacy would be compromised, due to the amount of data both companies collect about users' search and Web surfing habits. Google faces scrutiny in both the U.S. and EU over the proposed acquisition.

Google lawyer Julia Holtz said she was confident the EU would approve the deal on the basis of the new commitments, which involve keeping certain DoubleClick's practices separate from those of Google. The EU commission will make its decision on Nov. 13.

Read the whole story at Bloomberg News »

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