The United Kingdom’s Office of Fair Trading has given Facebook’s planned acquisition of Instagram a nod of approval. The government agency said Tuesday that it has “decided on the information currently available to it, not to refer this merger to the Competition Commission under the provisions of Enterprise Act 2002.” In other words, the OFT decided that there aren’t any competition concerns related to the purchase.
The United States Federal Trade Commission is also investigating the deal in the United States, which could result in a one year delay before the merger takes place. Still, the deal is expected to go through and, as we’ve said before, it’s common practice for deals larger than $66 million to get a gander through the FTC’s microscope to sort out any possible antitrust conflicts. Facebook first announced its plans to acquire Instagram for $1 billion in April.