FTC: Integration of FB's subsidiaries may hinder its breakup

Tuesday, 20. August 2019 02:34

Chairman of the United States Federal Trade Commission (FTC) Joseph Simons stated that Facebook Inc.'s plans to closely integrate WhatsApp, Instagram, and Messenger may hinder any attempt to break up the company. In an interview for the Financial Times, Simons acknowledged that the ongoing investigation against the social media giant was focused on past mergers and potential antitrust violations.

FTC's chief also said that he plans to complete the probe before the upcoming 2020 presidential elections.

All of the mergers and acquisitions currently under investigation were previously approved by the federal regulators, including by the FTC. Facebook recently agreed to pay the FTC a record $5 billion settlement over the Cambridge Analytica privacy and data misuse scandal.

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Breaking the News / MA