Google Appeals For EU's DoubleClick Permission
David A. Utter's picture
Submitted by David A. Utter on Fri, 09/21/2007 - 10:54.
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The proposed DoubleClick purchase has put Google back on its heels as people assail the blockbuster deal on several fronts.
Google would prefer not to have to fight so many battles, as it seeks to pull ad network DoubleClick into its corporate arcology.
To stave off complaints from the European Union, Google has sought the blessing of competition regulators there to go through with its acquisition of DoubleClick. A Reuters report cited a company representative on this development:
The Commission set a review deadline of October 26, by which time it could approve the deal, give a two-week extension or open an in-depth, four-month investigation.
"We are asking the European Commission to look at the proposed acquisition. We believe this deal is positive for both users and advertisers and fosters competition," Julia Holtz, Google's competition counsel, told Reuters.
Google has a date next week with US lawmakers over the deal. A Senate Judiciary subcommittee will host Google and its detractors at a hearing on September 27th.
The Federal Trade Commission also plans a separate town hall meeting on the purchase. Their event takes place November 1st and 2nd in Washington DC.
webpronews.com
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Analysts blame the sell-off on a number of factors: concerns about the economy in general, profit taking after the huge run-up in technology stocks in recent months and Cisco Systems' disappointing earnings forecast last week. Unfortunately for tech investors, analysts say there's a good chance that things will continue to get worse before they get better.
mercurynews.com
In fairness, just want to point out these are the same analysts who yelled "BUY! BUY! BUY!" in March 2000. These guys couldn't tell a bubble from Double Bubble. |
