Facebook’s stock dropped almost by 3% in trading after a report showed that the US FTC might take antitrust action against Facebook to avert integration with its messaging Apps.
According to the reports published by The Wall Street Journal, The FTC might block the integration by simply citing competition concerns. The FTC may also seek the intervention of a court for Facebook to revise the use of the same underlying software for all of the services.
However, Facebook and FTC have refused to comment on this.
Facebook first revealed its idea of the integration of its messaging services in the early days of January this year. This merger enables us to send messages from Messenger to WhatsApp who doesn’t have an FB account.
Speaking about this FB’s CEO Mark Zuckerberg said he believed that this would allow users to use the App they like to text their friends, colleagues, and others.
A few months later, Facebook revealed that it is under FTC’s eye for trust violations. The WSJ has now published reports showing that an interjunction could come as early as possible may be around January 2020.
FB is currently working on the grounds to come up with the integration the following year.
Leave a Reply