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Facebook Breakup Seen as Real Risk in Landmark Antitrust Cases
David McLaughlin and Ben Brody, Bloomberg News The WhatsApp Inc. mobile-messaging application WhatsApp and the Facebook Inc. application are displayed along with other apps on an Apple Inc. iPhone in this arranged photograph taken in Hong Kong, China, on Thursday, Feb. 20, 2014. Facebook, the worlds largest social network, agreed to acquire mobile-messaging startup WhatsApp Inc. for as much as $19 billion in cash and stock, seeking to expand its reach among users on mobile devices. Photographer: Bloomberg/Bloomberg , Photographer: Bloomberg/Bloomberg
(Bloomberg) If there were any lingering doubts about the governmentâs stomach for going after American technology giants, they were erased Wednesday by a pair of lawsuits against Facebook Inc. demanding a sweeping remedy: the breakup of the social-media company.
Zuckerberg s Deal Making for Facebook Is Central to Antitrust Cases
12/10/2020 | 05:45am EDT
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By Jeff Horwitz The Federal Trade Commission s lawsuit against Facebook Inc. puts the regulatory spotlight on the deal-making history of Chief Executive Officer Mark Zuckerberg, who has personally engineered the tech giant s biggest acquisitions. The FTC and a group of 46 states in separate antitrust lawsuits on Wednesday alleged that Facebook engaged in a yearslong campaign to acquire or stymie nascent technology companies that it feared could become rivals. The FTC said it was seeking court relief that could include forcing Facebook to sell two of its biggest acquisitions: messaging service WhatsApp and photo-sharing app Instagram, which competition authorities previously chose not to challenge.