Facebook's $1 billion proposed Instagram acquisition is one step closer to approval.
The U.K.'s Office of Fair Trading today approved the deal, saying that it has decided "not to refer this merger to the Competition Commission." The agency had until August 23 to refer the acquisition inquiry to the commission.
Back in June, U.K. news outlet Guardian reported that the Office of Fair Trading was considering investigating the deal. The publication said, citing sources, that the agency was concerned that the deal would hurt competition in the marketplace by combining two of the most … Read more