Meta Platforms (META) said Sunday that a Federal Trade Commission's lawsuit, set to begin on Monday, to break up its ownership of Instagram and WhatsApp, relies on a flawed understanding of social media competition.
The social media company said the FTC's approach wrongly ignores major players like TikTok and Alphabet (GOOGL, GOOG) subsidiary YouTube, and instead defines the market so narrowly that it excludes obvious rivals. The agency is alleging that the company's only competitors are Snap's (SNAP) Snapchat and MeWe, according to Meta.
Meta argued that its investments turned Instagram and WhatsApp into secure, widely used platforms, with each now serving more than two billion users. It emphasized that both purchases were cleared by regulators over a decade ago, and said reopening those decisions now sends a troubling message about the reliability of US regulatory approval.
Shares of the company were 1.2% higher in recent Monday premarket activity.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。