U.S. FTC probes Facebook’s acquisition practices

The company’s acquisition practices are the main focus of the probe, as the FTC looks into Facebook buying technology-based startups to keep them from challenging it, the report said. Facebook has purchased dozens of companies over the years, including messaging company WhatsApp and image sharing platform Instagram.Facebook last week said the FTC had opened an antitrust investigation in June looking into the areas of “social networking or social media services, digital advertising, and/or mobile or online applications.”Facebook shares were down 0.7%.

Both FTC and Facebook declined to comment on the report.The U.S. Justice Department said on July 23 it was opening a broad investigation of major digital technology firms, looking into whether they engage in anticompetitive practices,…