Deals
Meta Says FTC Suit to Block VR Deal has ‘No Real Evidence’
- Agency argues deal would stifle future competition in new area
- Arguments in antitrust suit will go eight days before US judge
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Meta Platforms Inc.’s lawyer said the US antitrust enforcers are pursuing “an aggressive effort to make law with no real evidence” in their suit to block the company from buying a virtual reality startup.
Opening arguments began Thursday in the Federal Trade Commission’s suit to stop Meta’s acquisition of Within Unlimited Inc. because the deal will tamp down future competition in the young VR space. The argument that Meta’s decision to buy — instead of building its own offering — will lessen the number of potential rivals is one that’s rarely used by the regulator.