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FTC probes Facebook’s acquisition practices – WSJ

FILE PHOTO: the Federal Trade Commission (“FTC”) Chairman, Joe Simons, is pleased to announce that Facebook Inc. has agreed to a settlement of the allegations are wrong, the privacy of the user, at a joint press conference at FTC Headquarters in Washington, d.c., U.S., on July 24, 2019. REUTERS/Yuri Gripas/Photo File

(Reuters) – The U.S. Federal Trade Commission, is an investigation into whether Facebook Inc. the acquisitions have been focused on buying some of the potential competitors before they become a threat to the social-media company, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The acquisition of the company’s practices have been the main focus of the probe, and the FTC looking into Facebook’s purchase of technology-based start-up, it will keep on challenging it, the report said.

Facebook said last week that the FTC had opened an anti-trust investigation in June, looking at areas of social networking and social media marketing services, digital advertising, and mobile or web-based applications.”

Facebook shares were down 0.7%.

Both the FTC and Facebook declined to comment on the report.

In the last month, the company settled an FTC investigation into allegations of improper sharing of information by the 87 million people, with the now-defunct British political consulting firm in Cambridge Analytica. It will be a record $5 billion fine.

The united states Department of Justice, said at the end of July marked the opening of a comprehensive survey of the most important digital technology business, is looking at the question of whether it is located in in anti-competitive practices, is a clear sign of the Trumpet, the administration is stepping up scrutiny of the industry.

In June, Reuters reported that the FTC and the Department of Justice in which the enforcement of the U.S. antitrust laws, divided the supervision of the four big tech companies Amazon.com Inc. and Facebook under the watch of the FTC, and Apple, Inc. and Alphabet, Inc. Google under the Department of Justice.

Reporting Sayanti Chakraborty in Bengaluru; Editing by Shinjini Ganguli and Bill Berkrot

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