Google Set To Win EU Approval For Fitbit Takeover Next Week

According to Bloomberg, Google is set to win conditional European Union approval for its $2.1 billion takeover of Fitbit this month. From the report: The deal could be approved as soon as next week after national competition authorities give their opinion, said the people who asked not to be named because the procedure isn't public. The EU usually consults the so-called advisory committee on mergers days before it issues approval. Google announced its plans to buy Fitbit in November 2019, noting that it would use the smartwatch maker to improve its lagging hardware business. Clearing regulatory obstacles for the deal come in a tough climate when the company is facing mounting global scrutiny of big technology companies and potentially restrictive regulation in the EU and other regions. While Google has agreed to concessions to allay EU antitrust concerns about its move into wearable fitness devices, its final pledge to European authorities hasn't been disclosed.

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