European Union regulators have started checking whether the deal between Google and Fitbit meets antitrust requirements. This is mentioned by the signal-means-profits news portal, bringing up industry assets.
In November 2019, the American financial giant Google entered into an settlement to accumulate most amount of stocks in Fitbit, which is one of the pioneers inside the fitness bracelet marketplace. It is expected that the entire quantity of the transaction might be $2.1 billion. Google expects to close the deal until the end of 2020.
According to the Financial Times, the EU antitrust government are interested in this deal. It is suggested that other companies, also working within the marketplace of wearable gadgets, obtained a request from regulators to assess the effect of this transaction on competition inside the marketplace.
In specific, antitrust officers worry that the takeover of Fitbit by using Google can also put at a disadvantage different apps for health bracelets and comparable devices within the Google Play provider. It is stated that the very last choice on the need for an antitrust research will be made before July 20.
As previously said by way of signal-means-profits, inside the first sector of 2020, Fitbit entered the pinnacle 5 providers of wearable digital devices, in keeping with a document from IDC.
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