Report: China reviewing Google-Motorola merger
Chinese antitrust regulator is currently conducting a review of Google's purchase of phonemaker Motorola Mobility and have until March to approve or conduct another round of review, according to a report.
Reuters reported on Thursday that China's Anti-Monopoly Bureau is now reviewing the US$12.5 billion deal as part of a routine acquisition process.
The bureau's spokesman Shen Danyang said in a press briefing: "[The review] is still in the process of checking and verification of relevant issues and we will release any news of development in a timely manner."
The newswire cited a source close to the matter as saying that China has until Mar. 20 to decide if it will approve the deal or start a third phase of review.
A Google spokesperson told Reuters that it had filed for approval of the deal with China in September and was waiting for the review.
According to Reuters, companies running businesses in China and earn annual revenues of 10 billion yuan (US$1.55 billion) globally and 400 million yuan in China must seek government approval for a proposed acquisition. The Internet company has other business in China even though it moved its search business to Hong Kong in 2010.
This week both U.S. and EU have approved of Google's purchase of Motorola.