Yahoo to acquire Taiwanese blog service Wretch.cc

Yahoo to acquire Taiwanese blog service Wretch.cc

Internet giants Yahoo! have received permissions from the Taiwan’s Fair Trade Commission to acquire the domestic blog service provider Wretch.cc.

The commission ruled that this acquisition would not affect competition in the local Internet market. As a result, Yahoo! can go ahead and complete the transaction.

When the deal was first announced, rival services in the region had petitioned the Fair Trade Commission (FTC) to stop the acquisition. They had claimed that this acquisition would give Yahoo! the power to control Internet advertising rates.

The FTC in its research found that after the acquisition Yahoo would only minutely enhance their market share in the region in the blogging service market.

Market sources claim that Yahoo! is paying around NT$700 million for this deal. Officially, no figures have been revealed.