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US: Facebook antitrust inquiry by the FTC focuses on acquisitions

By  |  August 1, 2019

Facebook’s woes with the US Federal Trade Commission (FTC) are far from over. The agency is investigating whether Facebook’s purchases of companies such as Instagram and WhatsApp were part of the social media giant’s strategy to stifle competition, according to a report from The Wall Street Journal.

Facebook revealed last week that the FTC had launched an antitrust investigation into the company, but the social network didn’t provide many details. The announcement came after the agency said it was fining Facebook a record-setting US$5 billion for alleged privacy missteps.

Now the FTC is looking into Facebook’s acquisitions and has contacted people who started the companies the social network acquired, The Wall Street Journal reported, citing people familiar with the matter.

In congressional testimony last month, Matt Perault, director of public policy at Facebook, told a House antitrust subcommittee that the company’s acquisitions have fueled innovation and brought together firms of complementary strengths.

Full Content: Wall Street Journal

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