Facebook $1 Billion Instagram Acquisition Got A Green Signal From UK’s OFT

Posted on Aug 14 2012 - 12:57pm by Editorial Staff

Facebook $1 billion deal finally got some further air to breathe comes a step closer for acquisition for completion. The UK’s Office of Fair Trading concluded that the deal would not result in a substantial lessening of competition in the UK. Back in April, the social giant acquired Instagram in a $1 billion deal with offering 30% cash, 70% stock and Stock valued at ‘north’ of $75 billion. “The OFT has decided, on the information currently available to it, not to refer this merger to the Competition Commission under the provisions of the Enterprise Act 2002,” OFT says. It’s an almost all-clear moment.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.