U.S. FTC chief says prepared to break up big tech firms: Bloomberg

Technology

FILE PHOTO: Federal Trade Commission (FTC) Chairman Joe Simons announces that Facebook Inc has agreed to a settlement of allegations it mishandled user privacy during a news conference at FTC Headquarters in Washington, U.S., July 24, 2019. REUTERS/Yuri Gripas

(Reuters) – U.S. Federal Trade Commission is prepared to break up major technology platforms if necessary by undoing their past mergers, Chairman Joe Simons said on Tuesday in an interview to Bloomberg, as the agency anti-competitive practices in the sector.

Simons said in the interview that breaking up a company is challenging, but could be the right remedy to rein in dominant companies and restore competition.

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He is leading a broad review of the technology sector to see whether companies including Facebook Inc are harming competition.

The FTC did not immediately respond to Reuters request for comment on the interview.

JustForex

Reporting by Ismail Shakil in Bengaluru

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