Google shares fall on fears of US probe |
| Reuters - Apr 5, 2011 |
Shares of Google Inc (GOOG.O) fell nearly 3 percent on Tuesday, following a Bloomberg report that the U.S. Federal Trade Commission is considering an antitrust investigation of the company's dominance of the Web search industry.
A potential U.S. probe, which would come on top of an ongoing European antitrust investigation, underscores the increasing non-operational risks that Google is facing, said BGC Partners analyst Colin Gillis.
"Google is definitely in the regulatory crosshairs," he said.
Before deciding whether to launch such an investigation, the FTC is waiting for the Justice Department to decide whether it will challenge Google's planned $700 million purchase of airline ticketing software company, ITA Software Inc, Bloomberg reported on Monday, citing people familiar with the matter
Google's stock was down 2.8 percent at $571 on Tuesday afternoon on the Nasdaq.
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- Posted: 2011-04-05 12:26:52
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