Google is apparently staring down the muzzle of a Federal Trade Commission investigation of its proposed $750 million AdMob acquisition. Bloomberg says the agency is taking sworn statements from Google, its competitors and advertisers, suggesting that the regulator could turn it to cinders – or if not that dramatic at least seek an injunction. The two companies have 21% of the US mobile Internet ad market according to IDC’s numbers, AbMob being the leader with 50%. Google also ran into serious Justice Department resistance when it tried to cut a deal with Yahoo and backed off rather than get sued.

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