AAPL Stock: 117.9 ( -0.13 )

Printed from

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 MacNN Staff



Login Here

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


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Ultimate Ears Megaboom Bluetooth Speaker

Ultimate Ears (now owned by Logitech) has found great success in the marketplace with its "Boom" series of Bluetooth speakers, a mod ...

Kinivo URBN Premium Bluetooth Headphones

We love music, and we're willing to bet that you do, too. If you're like us, you probably spend a good portion of your time wearing ...

Jamstik+ MIDI Controller

For a long time the MIDI world has been dominated by keyboard-inspired controllers. Times are changing however, and we are slowly star ...


Most Commented