FTC Chair Issues Monopoly Warning as Facebook Decision Nears
- Simons raises concerns about dominant firms buying startups
- Agency is nearing end of antitrust probe of Facebook
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The chairman of the U.S. Federal Trade Commission said antitrust enforcers need to be worried about dominant companies buying startups that are emerging competitive threats -- highlighting one of the main issues in the agency’s investigation of Facebook Inc.
Joe Simons said in a speech Thursday that takeovers of nascent competitors can be harmful to consumers and said that enforcers need to be ready to step in to stop such deals.