Australian Regulator Says Google’s $2.1 billion Fitbit Deal Could Harm Competition

Australia’s antitrust regulator warned Google’s planned $2.1 billion acquisition of fitness tracker maker Fitbit <FIT.N> may give it too much of people’s data, potentially hurting competition in health and online advertising markets.

The Australian Competition and Consumer Commission (ACCC) is the first regulator to voice concerns about the deal in a preliminary decision on Thursday. The Alphabet Inc <GOOGL.O>-owned tech giant is already at loggerheads with the Australian government over planned new rules about how internet companies use personal information.

“Buying Fitbit will allow Google to build an even more comprehensive set of user data, further cementing its position and raising barriers to entry to potential rivals,” ACCC Chairman Rod Sims said on Thursday. “User data available to Google has made it so valuable to advertisers that it faces only limited competition.”… READ MORE @ Yahoo