BUSINESS - EXCLUSIVE
Facebook boasted of buying Instagram to kill the competition: sources
By Josh Kosman
February 26, 2019 | 7:59pm | Updated
Reuters
Facebook may be in for a fight with the feds over Instagram that’s been brewing for a long time.
The Federal Trade Commission — which on Tuesday launched a new task force with the power to undo tech deals previously approved by the feds — seriously weighed an attempt to block Facebook’s acquisition of Instagram more than six years ago, The Post has learned.
Driven by concerns about Facebook’s fast-growing dominance among social networks, the FTC in 2012 contemplated filing a lawsuit contesting the $1 billion hookup — widely viewed as one of the most successful tech mergers in history, two sources with close knowledge of the deliberations told The Post.
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READ MORE: https://nypost.com/2019/02/26/facebook-boasted-of-buying-instagram-to-kill-the-competition-sources/
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