Google and Twitter have been approached by the US Federal Trade Commision (FTC) regarding Facebook’s recent $1 billion Instragram purchase according to a report from Reuters, which cited a source familiar with the probe.
It was not immediately clear what information the FTC was seeking from the two companies, the source said, but it is customary for the FTC to review purchases that are over a certain size.
Facebook is reportedly hoping to close the deal for Instagram by the end of the second quarter, something that observers say is unlikely given the scale of the purchase. Whether the FTC review will delay those plans or interfere with the company’s IPO this week is unclear.
When queried Facebook and Twitter had no comment on the FTC’s inquiries and Google was unavailable for comment.
Source: Reuters
