Categories: Facebook

EU Gives The Green Light for Facebook $19Bn Takeover of WhatsApp

EU Gives The Green Light for Facebook $19Bn Takeover of WhatsApp

The world’s leading social network, Facebook was on Friday given the green light by the European Union (EU) to proceed with its planned takeover of WhatsApp at a price tag of $19 billion.

The new deal will see Facebook go up into competition against telecom companies given the fact WhatsApp is planning to introduce free voice-call services by the end of this year. In the ten years run of Facebook, this has been its biggest acquisition and has effectively introduced Facebook into a new fast-growing market of mobile messaging.

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 consumer communications apps,”

said, Joaquin Almunia – European Competition Commissioner.

Experts’ analysis of WhatsApp predicts WhatsApp, as a fast growing and potentially powerful competitor to telecom companies like Telecom Italia, Orange, and Deutsche Telekom. Given that by the end of 2013 it had already 450 million customers, and with the planned introduction of free voice-calling services. WhatsApp would essentially be providing text messaging, video sharing and voice-calling services, which are the key services provided by telecom companies.

Milicent Atieno

Proud Kenyan Citizen, loving everything Tech related.

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