EU antitrust regulator intends to block Amazon’s iRobot acquisition: WSJ
THE European Union’s competition watchdog plans to block Amazon.com’s US$1.4-billion deal for robot vacuum maker iRobot, The Wall Street Journal said on Thursday, citing people familiar with the matter.
Shares of the Roomba vacuum maker plunged 36 per cent to US$15 in trading after the bell.
Officials from the European Commission met Amazon’s representatives on Thursday to discuss the deal, the report said.
The US tech giant did not offer remedies to the European Union antitrust regulator until the Jan 10 deadline to address concerns the deal could reduce competition and reinforce Amazon’s e-commerce platform dominance.
WSJ reported that Amazon was informed during the meeting that the deal was likely to be rejected.
Amazon declined to comment on the report.
SEE ALSO
The e-commerce giant disclosed its plans to buy iRobot in August 2022, as it looks to add to its portfolio of smart devices, which include the Alexa voice assistant, smart thermostats, security devices and wall-mounted smart displays.
The European Commission, which serves as the EU’s competition watchdog, had until Feb 14 to either approve or reject the deal. REUTERS
Share with us your feedback on BT's products and services
