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EU antitrust regulators to investigate $2.1 bln Google, Fitbit deal

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Foo Yun Chee Reuters
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Credit: REUTERS/DADO RUVIC

EU antitrust regulators opened on Tuesday a four-month long investigation into Alphabet unit Google's $2.1 billion bid for fitness tracker maker Fitbit, saying the deal would further entrench the company's clout in the online advertising markets.

BRUSSELS, Aug 4 (Reuters) - EU antitrust regulators opened on Tuesday a four-month long investigation into Alphabet GOOGL.O unit Google's $2.1 billion bid for fitness tracker maker Fitbit FIT.N, saying the deal would further entrench the company's clout in the online advertising markets.

The European Commission said a pledge by Google not to use Fitbit's data for advertising in a bid to address competition concerns was insufficient.

Google is seeking to take on market leader Apple AAPL.O and Samsung 005930.KS in the fitness-tracking and smart-watch markets via the deal.

(Reporting by Foo Yun Chee)

((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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