Russia Blocks Google Acquisition of ZAO
Posted by jonathan at 11:53pm EST on 10/23/2008
Google was trying to secure the acquisition of ZAO Begun, a Russian based online ad agency. (press release)
Late Thursday, news broke that Russia had blocked the acquisition and will not allow it.
Google has a strong commitment for delivering relevant ads making money through any country in the world and this acquisition was just a stepping stone for taking over the Russian market.
Russia apparently doesn’t want that. Russia’s Federal Anti-Monopoly Services (FAS) decided to block the deal. Google is “reviewing” the decision and looking at what actions they will take next.
