Google's $2.1 Billion Deal to Buy Fitbit Hits an EU Speedbump

Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) subsidiary Google will face a full-scale antitrust investigation by the European Union (EU) into its attempt to acquire fitness tracker Fitbit (NYSE: FIT) for $2.1 billion, according to a report by Reuters.

In order to appease the EU and get the deal done, Google had offered to forego using the fitness data it collected from the devices to target ads to users. It appears that wasn't enough to allay antitrust concerns.

Image source: Getty Images.

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Source Fool.com