Microsoft moves to address competition issues on LinkedIn takeover
- 8 years ago
Microsoft has moved to appease European competition regulators over its takeover bid for social media network LinkedIn.
The European Commission said the US software company has offered concessions to get the deal approved. It did not say what those concessions were.
The Commission is due to rule on the takeover by the sixth of December and could accept the concessions, demand more or open a full investigation.
It is expected to talk with rivals and customers of the companies before deciding.
LinkedIn makes most of its money from job hunters and recruiters who pay it a monthly fee to post resumes and connect with people.
US rival Salesforce – which failed in its bid for LinkedIn – has warned of a threat to innovation and competition.
Microsoft however sees competition from social network Facebook and wants regulators to take that into account, according to people familiar with the matter interviewed by Reuters.
The $26 billion (24.25 billion euro) bid is Microsoft’s largest ever deal.
The European Commission said the US software company has offered concessions to get the deal approved. It did not say what those concessions were.
The Commission is due to rule on the takeover by the sixth of December and could accept the concessions, demand more or open a full investigation.
It is expected to talk with rivals and customers of the companies before deciding.
LinkedIn makes most of its money from job hunters and recruiters who pay it a monthly fee to post resumes and connect with people.
US rival Salesforce – which failed in its bid for LinkedIn – has warned of a threat to innovation and competition.
Microsoft however sees competition from social network Facebook and wants regulators to take that into account, according to people familiar with the matter interviewed by Reuters.
The $26 billion (24.25 billion euro) bid is Microsoft’s largest ever deal.