• Reuters

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Facebook Inc. could be forced to sell its prized assets WhatsApp and Instagram after the U.S. Federal Trade Commission and nearly every U.S. state filed lawsuits against the social media company, saying it used a "buy or bury" strategy to snap up rivals and keep smaller competitors at bay.

With the filing of the twin lawsuits on Wednesday, Facebook becomes the second big tech company to face a major legal challenge this year after the U.S. Justice Department sued Alphabet Inc.'s Google in October, accusing the $1 trillion company of using its market power to fend off rivals.

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