EconomyEditor's PickNewsGoogle offers concessions in fresh bid to win EU okay for Fitbit deal

2 years ago275 min
imageStock Markets19 minutes ago (Sep 29, 2020 06:25AM ET)

(C) Reuters. FILE PHOTO: Fitbit Blaze watch is seen in front of a displayed Google logo in this illustration

By Foo Yun Chee

BRUSSELS (Reuters) – Alphabet (O:GOOGL) unit Google has offered concessions for a second time in a bid to address EU antitrust regulators’ concerns about its bid for fitness tracker maker Fitbit (N:FIT), a European Commission filing showed on Tuesday.

The Commission, which is scheduled to decide on the deal by Dec. 23, did not publish details of the concessions in line with its policy.

The EU competition enforcer will now seek feedback from rivals and customers before deciding whether to accept the concessions, demand more, or either clear or block the detail.

Last month, it rejected Google’s pledge not to use the fitness tracker’s data for advertising purposes in a bid to address competition concerns, saying that it was insufficient.

The Commission recently asked Google rivals and customers about interoperability issues, what technical steps the company could take to foreclose competition to Fitbit to increase its sales, and how incentives could prompt it to do so, according to a person familiar with the matter.

It also asked about issues related to digital healthcare and the kind of data Google needs and where they could acquire it, the person said, suggesting concessions may be needed in these two areas.

Google offers concessions in fresh bid to win EU okay for Fitbit deal

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave a Reply

Your email address will not be published. Required fields are marked *