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Friday, October 3, 2014

Facebook wins EU approval for $19 billion WhatsApp bid, (NYSE: ORAN)

Facebook, the world's most popular social network, gained European Union clearance on Friday for its proposed $19 billion takeover of mobile messaging startup WhatsApp in a deal setting it against the telecoms industry.The landmark deal is the largest in Facebook's 10-year history and will give it a strong foothold in the fast-growing mobile messaging market.WhatsApp is poised to become a potentially powerful rival to companies such as Deutsche Telekom, Orange and Telecom Italia with its plan to add free voice-call services for its 450 million customers later this year.The European Commission said the Facebook-WhatsApp deal would not hurt competition.

Orange SA, formerly France Telecom SA, is a France-based company that is engaged, principally, in the provision of integrated telecommunications services. Shares of ORAN fell by 1.11% or $-0.16/share to $14.21. In the past year, the shares have traded as low as $11.65 and as high as $17.43. On average, 588172 shares of ORAN exchange hands on a given day and today's volume is recorded at 464782.