Google Is Awaiting For China’s Approval Over Its ‘$12.5 Billion’ Motorola Mobility Acquisition

Posted on Feb 16 2012 - 7:37am by Editorial Staff

After suspending the hearings by EU regulators early last December to seek more information about Google’s acquisition of Motorola Mobility, the commission set February 13 as a deadline for the mulling the deal – and reportedly European Commission as well as U.S. Department of Justice approved Google’s proposed acquisition of Motorola Mobility, which the company announced in August.

Pointing out on the EU’s approval over the deal , Don Harrison, Google’s Vice President & Deputy General Counsel, revealed that it is “now just waiting for decisions from a few other jurisdictions before we can close this transaction”, one of which is China. The deal which is one of an important milestone in the approval process so far and it moves the company a step up closer to closing the deal – with now an eye on Chinese jurisdiction to pin up its decision.

According to Reuters report, which suggest that Chinese Commerce Ministry’s Anti-Monopoly Bureau is looking into Google fresh grain deal which is valued at $12.5 billion in order to purchase Motorola Mobility – since the deal amounts a “huge” lot and according to Chinese government law any business which generates revenue in excess of $1.55 billion per annum of which approximately $62 million comes from China must need to get the government approved first before it can be acquired. The search giant told other publication TNW that is had filed its application last year and is now waiting for final approval.

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