European Commission Gives Go-Ahead To Microsoft-Skype Deal

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The European Commission has given the go-ahead to the Microsoft-Skype deal. Brad Smith, General Counsel and Executive Vice President, Microsoft Corporation, called the move an important milestone, and said that the company is completing the final steps needed to complete the acquisition. The agreement has already been cleared by United States.

Microsoft announced its plans to acquire Skype in May last year for $8.5 billion in cash from the investor group led by Silver Lake. The agreement has been approved by the boards of directors of both Microsoft and Skype.