Amazon’s Acquisition Of The Book Depository Gets Official OK
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Despite industry organizations’ fears that Amazon’s acquisition of UK online bookseller The Book Depository will create a de facto monopoly, the Office of Fair Trading is approving the merger. In the OFT’s view, The Book Depository is so small that Amazon (NSDQ: AMZN) is not buying a real competitor.
The OFT found that “Amazon’s share of the UK online book market was strong,” but TBD’s accounted for only “between two and four percent of online retailing” of hardcover books in the UK. The OFT also said that most of TBD’s growth was taking place in overseas markets, not in the UK.
SEE ALSO: Opposition Mounts Against Amazon's Acquisition Of The Book Depository
Amazon announced its acquisition of The Book Depository in July. The merger was opposed by the UK Booksellers Association, Publishers Association and Independent Publishers Guild.
The Book Depository has said it will continue to operate independently after its acquisition. It’s unclear when the merger will be completed.
Posted In: Legal, Regulatory, Media & Publishing, Books, Money, M&A & Venture Capital, Mergers & Acquisitions, Companies, Amazon, Countries, Europe, UK, the book depository
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