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FTC extends probe of Facebook buy of Instagram - report

Wednesday 30 May 2012 | 10:16 CET | News
Facebook has received notice that US antitrust regulators will give its proposed purchase of the photo-sharing app maker Instagram a lengthy investigation, an industry source told Reuters. Facebook has received a "second request" from the Federal Trade Commission, essentially a request for relatively large amounts of data that the regulators will sift through to ensure that the deal complies with antitrust law. The news comes as Facebook's shares slid to a new low, below USD 29, making Instagram worth less than the originally announced acquisition price of USD 1 billion. According to Reuters,

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Categories: Internet / Mobile & Wireless
Companies: Facebook / Google / Instagram / Twitter
Countries: World
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