REUTERS: Senator Elizabeth Warren vowed on Friday to break up Amazon.com Inc, Alphabet Inc's Google and Facebook Inc if elected U.S. president to promote competition in the tech sector.
Investors shrugged off her comments, with shares in the three companies barely affected. Shares of Facebook and Alphabet were each down less than 0.5 percent on Friday. Amazon.com was down 0.9 percent.The most famous case in recent memory is the government's effort to break up Microsoft. The Justice Department won a preliminary victory in 2000 but was reversed on appeal. The case settled with Microsoft intact.
Facebook has angered lawmakers for losing track of users' data and for not doing more to stop foreign meddling in the 2016 U.S. presidential election. Google has clashed with smaller companies, like Yelp, over search placements and has raised concerns it would comply with China's internet censorship and surveillance policies if it re-enters the Asian nation's search engine market.
"We need legislation specifically targeted to enhance competition on digital platforms so that there is a real opportunity for new, innovative competitors to succeed," said Charlotte Slaiman, the group's policy counsel.
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