FIT - Google-Fitbit deal receives conditional approval in EU after antitrust concessions

The EU conditionally approves Google's ([[GOOG]],[[GOOGL]]) $2.1B acquisition of Fitbit (FIT).Google will have to silo off user data and not use it for targeted advertising and ensure that Android phones will continue to work with other fitness wearables and smartwatches.The tech giant's antitrust concessions are binding for at least 10 years.EU competition commissioner Margrethe Vestager says Google's concessions "will ensure that the market for wearables and the nascent digital health space will remain open and competitive."Fitbit share are up 0.7% pre-market to $7.25.Previously: DOJ's Google-Fitbit deal ruling not expected until after Europe weighs in - CTFN (Nov. 24 2020)

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Google-Fitbit deal receives conditional approval in EU after antitrust concessions