Washington: The Federal Communications Commission (FCC) does not have the authority to interfere in billionaire businessman Elon Musk’s acquisition of Twitter, FCC Commissioner Nathan Simington said on Monday.
Last week, Twitter said it agreed to be acquired by Musk in a deal worth $44 billion, although it is still subject to shareholder approval.
“Some have recently called on the FCC to stop Elon Musk from acquiring Twitter. But nothing in the United States Code or our regulations gives us the right to interfere with this transaction,” Simington said in a statement.
The FCC’s competition review authority does not and has never extended to internet platforms like Twitter, Simington said.
Musk’s acquisition of Twitter would not limit competition or harm consumer welfare, he said.
