The Russian Federal Antimonopoly Service has blocked the $140 million acquisition of Begun, Russia’s biggest contextual ad service. The FAS has fears that Google would dominate the Russian Internet advertising world.
The Russian Federal Antimonopoly Service claims that Google has not submitted the proper and complete info on all the company employees working in Russia. Not having this info, according to the FAS, prevented the FAS from properly evaluating the consequences of such a deal correctly.
Svetlana Gladkova of Profy gives her honest editorial :
Now it looks like I was not alone questioning if Google would build yet another monopoly with this acquisition: today Russian news outlets report that the Russian Federal Antimonopoly Service has banned the acquisition…
..But I believe it is quite obvious that the authorities have decided that increasing Google’s presence in the Russian contextual advertising market could potentially damage the market and the competition.
Loren Baker
@lorenbaker
Latest posts by Loren Baker (see all)
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very impressive