The Most popular social media platform Facebook has been giving a node by the EU regulators to acquire another Platform whatsApp at $19 Billion.
The News agency of Nigeria (NAN) released the report and reported thus:
The European Union regulators on Friday gave a node to the planned merger of two giant communication platforms, Facebook and mobile messenger WhatsApp.
They said Facebook’s 19- billion-dollar purchase of the mobile messenger, WhatsApp, would not hamper competition.
“While Facebook Messenger and WhatsApp are two of the most popular apps, most people use more than one communications app,” EU Competition Commissioner, Joaquin Almunia, said in a statement.
“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,” he added.
U.S. regulators also approved the acquisition in April, but warned Facebook that it had to abide by WhatsApp’s stringent privacy practices.
The social networking giant announced the acquisition of WhatsApp in February.
The Smartphone app is one of the most popular messaging platforms in cyberspace, with 600 million users worldwide, according to the European Commission, the EU’s executive body.
The instant messaging service allows users to send text, pictures and video messages to anyone with the app. The service is especially popular in Europe, Latin America and parts of Asia.
Facebook has 1.3 billion users, the commission said.
The social networking company has its own texting app, Messenger, but the commission found that the two services are “not close competitors”.
The social networking company has its own texting app, Messenger, but the commission found that the two services are “not close competitors”.
Culled from the NAN
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