Russia Blocks Google From Acquiring Ad Network
By Anna Johnson on October 29th, 2008Russia’s Federal Anti-monopoly Service (FAS), has blocked Google from acquiring ad network, ZAO Begun.
In a deal worth $140 million, Rambler Media, Begun’s British holding company, had agreed to sell the six-year-old contextual ad network to Google in July, with the parties expected to close the transaction in September. Rambler owns 50.1 percent of ZAO Begun and was aiming to acquire the remaining 49.9 percent stake from Bannatyne Limited before selling all of Begun to Google.
Not any more. Seems like Russia takes its competition laws pretty seriously.
Source: Jack Marshall, “Google’s Russian Deal Blocked by Regulators”, The ClickZ Network, October 23, 2008
