EU Will Possibly Investigate Facebook's Kustomer Acquisition: Reuters
Facebook Inc's (NASDAQ: FB) acquisition of U.S. customer service startup, Kustomer, is likely to attract the EU antitrust probe after its initial review ends in Aug, Reuters reported.
It expects the acquisition to boost WhatsApp, which noted a pandemic-induced demand surge.
Facebook expects to gain a better product to sell businesses alongside their other services and tap the budding customer service industry leading to a newer revenue stream, TechCrunch reported.
It becomes very vital considering the growing competition from TikTok and Snap Inc's (NYSE: SNAP) Snapchat.
Reuters had previously reported about possible scrutiny as the global regulators tighten rules over the Big Tech acquisitions to protect the smaller players.
Price action: FB shares traded higher by 6.21% at $372.99 on the last check Friday.
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