Google’s Russian Begun purchase deal halts by FSA
Russia’s Federal Anti-monopoly Service, FAS, has blocked a move by Google to purchase Begun, an advertising agency. The watch dog group claims they blocked the deal because Google did not provide them with enough information to allow FAS to access whether or not the deal would help or hurt competition.
Google’s bid on Begun was reportedly $140 million.
FAS, the Russian anti-monopoly watch dog, was stepped up its efforts ever since Vladimir Putin, the Prime Minister, declared that the service be more active. As FAS ratchets up its involvement in Russian commerce it could very well become one of the more powerful agencies in the country.
The search engine giant began talks with Rambler Media in July of this year to purchase the ad company. Begun is the largest contextual advertising network in the Russian Internet, Reuters reports.
But, for now, Google’s expanding ad empire will be put on hold.
Source: Iron Curtain Falls On Google’s Russian Ad Deal
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