Google asks European Commission permission to acquire DoubleClick

Google asks European Commission permission to acquire DoubleClick

The European Commission has said in a statement that the search engine giant Google has now submitted their application with the European Union competition regulator to get permission to acquire DoubleClick.

The commission added that they have now set a review deadline of October 26. They could approve the deal on that day or give a two-week extension. It could also result in a four-month investigation if they find that the company would get monopolistic powers through this deal.

Julia Holtz, Google’s competition counsel spoke about these new developments: “We are asking the European Commission to look at the proposed acquisition. We believe this deal is positive for both users and advertisers and fosters competition.”

Rival companies including Yahoo have criticized this deal and have asked for an in-depth review.

Toby Coppel, managing director of Yahoo Europe had this to say on their stand on this deal: “The deal raises important questions about the future of Internet advertising. These questions warrant an in-depth debate and review by a broad range of Internet publishers, advertisers, service providers and governments in Europe and elsewhere.”