U.K. Office Of Fair Trading Approves Facebook-Instagram Deal
Facebook’s pending acquisition of photo-sharing application Instagram cleared one hurdle across the pond when the U.K. Office of Fair Trading signed off on the deal.
Facebook’s pending acquisition of photo-sharing application Instagram cleared one hurdle across the pond when the U.K. Office of Fair Trading signed off on the deal.
The OFT announced its decision with the following brief statement:
The OFT has decided, on the information currently available to it, not to refer this merger to the Competition Commission under the provisions of the Enterprise Act 2002. The text of this decision will be placed on the Office of Fair Trading’s website as soon as is reasonably practicable.
A spokesman for the OFT offered more details to TechCrunch, saying:
We examined this in light of them both offering social networking services, looking at potential competition in social networking services, and in the supply of photo apps and whether the merger might result in the merging parties limiting people from others using other apps or other sites.
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