EU court upholds Microsoft, Skype deal, rejects Cisco challenge
LUXEMBOURG (REUTERS) - Europe's second highest court upheld on Wednesday a decision by European Union (EU) regulators clearing Microsoft's US$8.5 billion (S$10.6 billion) takeover of Skype two years ago, rejecting a challenge by the world's top network equipment maker Cisco Systems Inc.
"Microsoft's acquisition of Skype is compatible with the internal market. The merger does not restrict competition either on the consumer video communications market or on the business video communications market," the Luxembourg-based General Court said.
Cisco, which filed its challenge together with Italian fixed-line and Internet telephone provider and Skype rival Messagenet SpA, can appeal to the EU Court of Justice.