FIT - Google's Bid for Fitbit Faces Another Challenge in Europe
Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google agreed to buy wearables maker Fitbit (NYSE: FIT) for $2.1 billion last November. Google expected to close the purchase in 2020, but several recent probes could postpone the deal.
Earlier this year, the U.S. Department of Justice, which previously expressed concerns about Google's acquisition of Fitbit's personal data, requested more information from both companies regarding the deal. Google hasn't cleared that hurdle yet, but it now faces fresh demands for closing the deal in the European Union, according to The Financial Times.
The EU reportedly wants Google to pledge it won't use Fitbit's data to "further enhance" its online searches, and that it won't block other companies from accessing Fitbit's data. The EU plans to rule on the deal before Aug. 4, but Google could face a long antitrust probe if it refuses to make those concessions.