10/23/2020, 12:49 AM (Source: TeleTrader)
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FTC's Facebook antitrust probe to be ready soon - report

United States Federal Trade Commission (FTC) officials are preparing an antitrust investigation into Facebook Inc.'s business practices, the Washington Post reported, citing three unnamed sources with knowledge of the matter.

The preparation of the probe has reportedly entered its final phases. It is expected to focus on Facebook's acquisitions of Instagram and WhatsApp, moves that have allegedly helped the company establish dominance on the social media market, according to the report.

The latest inquiry started after the FTC fined the social media giant $5 billion in July 2019 over the Cambridge Analytica scandal.

Breaking the News / MS