Amazon's (AMZN) iRobot acquisition to face EU antitrust investigation - Reuters
Reuters reported Thursday that Amazon's (NASDAQ: AMZN) $1.7 billion acquisition of iRobot, the robot vacuum cleaner maker, will have to face an EU antitrust investigation.
According to the publication's sources, the European Commission is planning to undertake a four-month investigation into the deal after the end of its preliminary review acquisition on July 6.
The news comes just a week after Amazon's purchase of the Roomba maker was cleared by the UK's Competition and Markets Authority (CMA)
In August last year, Amazon announced its deal to acquire iRobot and expand its portfolio of smart devices.
Reuters added that one of its sources familiar with the matter told them that Amazon is unlikely to offer remedies during the initial phase. However, it has a final chance to convince the EU competition watchdog that the acquisition is pro-competitive over the next few days, "although the odds are high."
Amazon shares are up more than 3% at the time of writing.
By Sam Boughedda