Google blocked from acquiring ZAO Begun

Google blocked from acquiring ZAO Begun

US based online advertising industry giant Google had announced earlier this year that they were planning to acquire ad service ZAO Begun from Russian company Rambler Media.

However, the deal has been blocked by the Russian authorities.

The deal was worth around USD 140 million and would have given Google a major boost in the Russian online advertising market.

Google has now said that they are disappointed by the objections raised by the Russia’s Federal Anti-Monopoly Service.

Rambler has also confirmed that the deal has been blocked by the government and it cannot be completed.

Google added in its statement: “At this time we are reviewing FAS’s decision. Once this process is complete, we will decide on our next steps.”