Russian antitrust regulator rejects Google's buy of Begun

MOSCOW, Oct 23 (Prime-Tass) -- Russia’s Federal Antimonopoly Service (FAS) has rejected Google’s application to buy Russian contextual advertising firm Begun, the regulator said Thursday.

Rambler Media, a leading Russian Internet media company, agreed in July to sell a controlling stake in Begun to Google for U.S. $140 million. Rambler Media also agreed then to start using Google’s search engine on its Rambler.ru Web site.

The deal was expected to be completed in September.

A source close to Rambler Media said earlier that the Kremlin was unhappy with the deal and had asked Rambler Media to cancel it, the Vedomosti daily reported.

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23.10.2008 14:00