Cisco appeals EU's approval of Microsft/Skype deal

Published on Wed, Feb 15, 2012 at 23:10 |  Source : Reuters

Like this story, share it with millions of investors on M3
0
0
Share on Tumblr

REUTERS - Network equipment maker Cisco Systems Inc has appealed the European Commission's approval of Microsoft Corp's acquisition of Internet voice and video service Skype, saying the commission should have put tougher conditions on the deal.

"Cisco does not oppose the merger, but believes the European Commission should have placed conditions that would ensure greater standards-based interoperability, to avoid any one company from being able to seek to control the future of video communications," Cisco said on Wednesday.

Microsoft gained EU approval in October last year to buy Skype for $8.5 billion in its largest ever acquisition.

The European Commission said it did not see any competition concerns arising from the deal because there were numerous players in the market, including Google Inc .

The U.S. Federal Trade Commission cleared the deal in June

(Reporting By Nicola Leske and Foo Yun Chee; editing by Andre Grenon)

  

Trending News

Business News

Flipboard launches Android app in beta
Subbarao's job just got harder - thanks to Q4 GDP crash "Subbarao's job just got harder - thanks to Q4 GDP crash"

Bharat Bandh hits normal life in several states

Prakash Javadekar CNBC-TV18 Exclusive Will Be Happy If A Probe In The Matter Has Been Ordered

The latest earning numbers FIRST on CNBC-TV18
Interviews

May 31 2012, 17:09 | Source: CNBC-TV18

Eyeing 5-6% growth in tractor segment during FY13: M&M  

May 31 2012, 14:55 | Source: CNBC-TV18

Expect reasonable growth in profits ahead: Praj Industries  

Subscribe to

Moneycontrol Newsletters

Moneycontrol.com offers you a choice of various sectoral and other newsletters for FREE!