China has approved Motorola deal, says Google
May 20 , 2012
Google has said that Chinese authorities have approved its $12.5 billion purchase of Motorola Mobility Holdings.
China's pending approval was the last regulatory obstacle to a deal that would allow the world's number one Internet search engine to develop its own line of smart phones.
Google announced plans for the acquisition last year in a bid to secure Motorola's valuable patents.
It also paves the way for a partnership between Google's Android mobile software and Motorola's handset business.
U.S. and European regulators approved the deal in February.
A main condition of the Chinese deal is that the Android system remains free and open for five years, according to a source familiar with the matter.