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FTC calls for Facebook divestiture to ‘restore competition’

11.12.2020
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Antitrust action alleges acquisitions were used to maintain a monopoly

The US Federal Trade Commission has joined forces with attorneys general from 48 states to launch an antitrust action against Facebook, reports the Wall Street Journal. The FTC accuses Facebook of taking over companies in order to remove them as competitors, and has asked the court to deem the acquisitions of Instagram and WhatsApp as a violation of federal antitrust law. The paper describes this as paving the way for the ‘divestiture of one or both businesses’. In addition, the FTC is calling for Facebook to gain regulatory approval for future acquisitions and not impose conditions on accessing its APIs and data in ways that could restrict competition.

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The US Federal Trade Commission has joined forces with attorneys general from 48 states to launch an antitrust action against Facebook, reports the Wall Street Journal.

Region:
Americas
Series:
Regulatory Watch
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