An FTC-EU Fight A-Brewin’ [4:59 pm]
The Federal Trade Commission said that the deal won’t significantly lessen competition in the online advertising market, rebuffing complaints from Microsoft Corp. and AT&T Inc. that it would give Google a dominant position.
”The FTC’s strong support sends a clear message: this acquisition poses no risk to competition and will benefit consumers,” Eric Schmidt, Google Inc.’s chief executive, said. ”We hope that the European Commission will soon reach the same conclusion.”
The European Commission declined to comment on the FTC’s decision, spokesman Jonathan Todd said.
The FTC’s approval of the deal without conditions could push European regulators to take a tougher line, says Rebecca Arbogast, an analyst at Stifel Nicolaus.
The FTC press release: Federal Trade Commission Closes Google/DoubleClick Investigation (pdf). With commissioner statements and other supporting information.