E.U Finally Approves Facebook on buying Whatsapp for $19Billion Dollars. | Mobile phone latest news Google+ Follow Smartfonefreaks on Twitter

Months back we read about the news that FaceBook founder Mark Zuckerberg and its Board of directors purchased the number one text messaging app Whatsapp for $19billion dollars but it looks like the transaction was withheld up until Friday(03-Oct-2014) when Reuters broke the news that the European Union has finally approved the purchase.

First thing that could have popped up on anyone's mind is "Why Do They Need Approval ?"... Well according to a reliable source  the deal was on hold because the EU felt it would harm communication telecom market...Here's what they have to say..

"We have carefully reviewed this proposed acquisition and come to the conclusion that it would not hamper competition in this dynamic and growing market. Consumers will continue to have a wide choice of consumer communications apps," European Competition Commissioner Joaquin Almunia said.

Although in the United States back in April Facebook had already gotten approval to acquire Whatsapp less than two m,onths after Facebook annouced it's proposal in February.

WhatsApp and its rivals such as KakaoTalk, China’s WeChat and Viber have in recent years won over telecoms operators’ customers with a free text messaging option, posing a serious threat to the sector’s revenues from this business, which totalled about $120 billion last year, according to market researcher Ovum.

Img Crdit: CrackBerry

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