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Facebook’s $19 Billion WhatsApp deal wins EU approval

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Facebook, which acquired WhatsApp for a staggering $19 Billion, has now got approval for the same, from the European Union. The deal is now a go ahead in the EU, Reuters reported.

The deal, largest in Facebook’s 10 year history, will proviide Facebook with the much needed penetration in mobile messaging market. Facebook’s own IM service, Messenger, has been unable to gain widespread reach and popularity.

WhatsApp is now on its way, too become a serious competitor to companies like Deutsche Telekom, Orange and Telecom Italia with its plan to add free voice-call services for its 450 million customers later this year.

The EU confirmed, that the Facebook WhatsApp deal will not “hurt competition”, with European Competition Commissioner Joaquin Almunia saying,

We have carefully reviewed this proposed acquisition and come to the conclusion that it would not hamper competition in this dynamic and growing market. Consumers will continue to have a wide choice of consumer communications apps.

The deal had already got approval in the US in April itself.

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