US, EU regulators approve Google’s Motorola buy
Company is still waiting on approval from China, Taiwan and Israel
Google's $12.5 billion purchase of Motorola Mobility Holdings has been approved by US and European regulators, according to Reuters.
The regulators said that they would keep a sharp eye on the web search giant to ensure patents critical to the telecommunications industry would be licensed at fair prices.
The US Justice Department has also approved an Apple Inc-led consortium's purchase of a block of patents from bankrupt Canadian company Nortel Networks Corp and has also signed off on Apple's purchase of patents formerly owned by Novell Inc.
Google said in August that it would buy Motorola for its 17,000 patents and 7,500 patent applications, for its Android operating system as it looks to compete with rivals such as Apple and prevent patent wars such as is currently going on between Samsung and Apple.
The acquisition is the largest in Google's history and will be the company's largest foray into the hardware business so far.
Google is still waiting for regulators in China, Taiwan and Israel to sign off on the deal.
Google shares finished regular trading on Monday's up 1% at $612.20.