Printed from http://www.electronista.com

UK Office of Fair Trading probes Facebook's Instagram buyout

updated 05:22 pm EDT, Mon June 25, 2012

OFT concerned over picture uploads, competition

The UK Office of Fair Trading is reportedly planning to investigate Facebook's Instagram purchase, which is valued at $1 billion. According to The Guardian, the OFT is attempting to determine if the acquisition will prevent picture uploads to other sites, such as Twitter, or prevent competing apps from uploading to Facebook altogether, however the agency is still said to be deciding whether or not it has jurisdiction over the takeover.

The OFT is requesting comments from interested parties up until July 5, and will then decide if it will pursue the matter and seek undertakings from both Instagram and Facebook, or to refer the case to the UK Competition Commission in late August.

The US Federal Trade Commission launched an investigation into the buyout last month, with information being collected from "at least two" Facebook competitors, in what is being described as a routine probe. Facebook will still owe Instagram $200 million if the acquisition is denied by the FTC, although it is not clear if an OFT rejection will bring a breakup fee.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Samsung Galaxy S 5

The Samsung Galaxy S5 might be the phone that Android users have been craving for some time. Information coming out of Mobile World Co ...

STM Trust technology bag

The search for a good messenger bag that doubles as a laptop bag is something many travelers find themselves facing at least once. Bet ...

PenClic Bluetooth mouse

Windows 8 aside, computer users have been trained that a mouse is the proper way to navigate through the desktop for many years now. T ...

Sponsor

toggle

Most Commented

 
toggle

Popular News