FIT - Antitrust Regulators Are Eyeing Google's Proposed Fitbit Acquisition
It's been a little over a month since Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) subsidiary Google said it would buy Fitbit (NYSE: FIT) in a $2.1 billion deal. Regulators in the European Union have already expressed concerns about the acquisition, primarily regarding user data, as Europe has far stronger data protections for consumers following the implementation of the General Data Protection Regulation (GDPR) last year. "In general we have a concern if companies merge because of data," Europe's chief antitrust enforcer, Margrethe Vestager, said last month.
Regulators in the U.S. are now eyeing the deal, too.
Fitbit Premium on Android. Image source: Fitbit.