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Last updated: October 02. 2013 12:40PM - 158 Views
Associated Press



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(AP) Israel's antitrust authority has opened a review of Google Inc.'s $1 billion acquisition of Israeli navigation app Waze.


An authority official said Wednesday that the companies did not inform it of their merger plans, and it is now investigating whether the deal needs antitrust approval. Under Israeli law, the authority must approve deals that create companies with full or near-monopoly status in their industries, or have revenue of more than roughly $40 million a year.


The official spoke on condition of anonymity because the investigation is in its early stages.


The companies have been asked to submit documentation within two weeks. The authority will then decide whether to launch a more in-depth investigation. The merger is not believed to be in jeopardy.


There was no immediate comment from either company.


Associated Press
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