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EU Will Possibly Investigate Facebook's Kustomer Acquisition: Reuters

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  • 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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