Don’t miss the latest developments in business and finance.

Japan can open probe into any merger involving Fitbit: Antitrust body head

EU antitrust regulators in August launched an investigation into a $2.1 billion deal by Alphabet

Fitbit Sense
“We’re closely watching developments including in Europe.”
Reuters TOKYO
1 min read Last Updated : Oct 19 2020 | 10:45 AM IST

TOKYO (Reuters) - Japan's antitrust watchdog can open a probe into any merger or business tie-up involving fitness tracker maker Fitbit if the size of such deals was big enough, Kazuyuki Furuya, the new chairman of the Fair Trade Commission (FTC), said on Monday.

EU antitrust regulators in August launched an investigation into a $2.1 billion deal by Alphabet unit Google's bid to buy Fitbit, a move aimed at taking on Apple and Samsung <005930.KS> in the wearable technology market.

"If the size of any merger or business tie-up is big, we can launch an anti-monopoly investigation into the buyer's process of acquiring a start-up (like Fitbit)," Furuya told Reuters in an interview.

"We're closely watching developments including in Europe."

 

(Reporting by Leika Kihara and Takahiko Wada; Editing by Chang-Ran Kim)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

More From This Section

Topics :JapanFitbitCompanies

First Published: Oct 19 2020 | 10:36 AM IST

Next Story