The Federal Trade Commission has given Facebook approval for the controversial acquisition of WhatsApp. Sources said that the FTC was close to approving the 19 billion dollars deal or extend the merger review.
The social networking site had announced on February 19 that it was planning to acquire the mobile messaging service.
According to the New York Post, the FTC had 30 days to decide over Facebook’s acquisition after the site submitted its merger application with regulators.
CEO Mark Zuckerberg included one billion dollars in cash, and one billion dollars in Facebook shares as a break-up fee payable to WhatsApp if regulatory authorities stopped the merger, showing that at least WhatsApp had some regulatory concerns, the report added.