Google Eager To Please European Regulators
The company’s DoubleClick deal hit an unexpected snag when European Commission members decided to draw out their review to April 2008.
Neelie Kroes and her fellow Competition regulators on the EC must have missed the relentlessly positive post Google put up, showing why their DoubleClick acquisition shouldn’t be any problem to anyone.
Kroes said competition, not privacy, would be what reviewers considered in assessing the impact of the $3.1 billion deal. Though it appears US regulators stand ready to rubber-stamp it, Kroes extended the investigation by 90 working days.
In Google’s SEC Form 8-K filing about this little snag, the search advertising company is the emboiment of eager helpfulness:
The European Commission (“EC”) has initiated a second-phase investigation into the proposed acquisition of Click Holding Corp. (“DoubleClick”) by Google Inc. Google and DoubleClick are working closely to cooperate fully with the EC’s continuing investigation into Google’s proposed acquisition of DoubleClick.
If this were Microsoft being vexed by Kroes again, we would suggest chairs were being thrown with great frequency in Redmond. Googlers probably don’t throw beanbag chairs too often, mostly because they are bulky and hard to toss.
When Eric Schmidt expressed hope the deal would close by the end of the year, the company was more concerned about the US antitrust investigation. The EC’s reluctance to wrap up its review quicker probably caught Google by surprise.