Google’s deal with Russian firm ‘halted’
Russian authorities have postponed a proposed deal between Google and a Russian advertising company.
Search engine giant Google’s proposed plans to strike a deal with a Russian advertising company has hit the rocks after officials in the country halted the move, reports have indicated.
Google expected the acquisition of Zao Begun to go ahead and has expressed its disappointment with the Russian Federal Antimonopoly Service’s decision to block the move.
The deal could assist search engine optimisation firms by allowing Google to purchase the Russian firm’s search, text and video businesses.
Google is looking to expand its online advertising businesses and a multi-million pound deal between the two firms had been agreed.
“We strongly believe that this acquisition will enable us to significantly improve opportunities for Russian users, advertisers and publishers as well as the entire industry,” the firm said.
A recent Wall Street Journal report predicted that Google would begin to enact new marketing techniques after the firm’s growth slowed to 39 per cent in the second half of 2008, compared to 58 per cent in the same period last year.
Sterling Market Intelligence internet consultant Greg Sterling told the news provider that although traditionally reluctant to use paid advertising, Google was set to “break with its relatively low-key history” in advertising.
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