FTC Possibly Set To Oppose Google-Admob Deal
The Federal Trade Commission is not going to give Google’s acquisition of AdMob a thumbs up, according to new reports. Indeed, the FTC seems likely to take the opposite approach and attempt to block the deal, with a formal show of opposition expected to occur in the near future.
Three people "familiar with the matter" told Jeff Bliss and Dina Bass this weekend that the FTC "is urging the filing of an antitrust suit." And Kara Swisher‘s heard similar things from "multiple sources," too, with next week looking like the time when something will transpire.
Obviously, that would represent bad news for Google. The fact that the search giant tried to buy AdMob for $750 million shows it very much values the idea of getting ahead in the mobile advertising market. Losing the opportunity to do so could be damaging to both the company’s reputation and its bottom line.
There’s a bit of good news for Google this morning, though, as investors don’t seem worried about the FTC-related reports. Google’s stock is up 0.39 percent at the moment, which makes for a nice start to the week.
We’ll see what happens. The FTC has yet to drop any official hints about its take on the matter.