In this photo illustration, the Facebook logo is seen on a smartphone screen with the EU flag in the background.

Chukrut Budrul | SOPA Images | LightRocket via Getty Images

Regulators in the U.K. and the EU launched formal competition investigations into Facebook on Friday.

The U.K. Competition and Markets Authority said it is investigating whether Facebook is abusing a dominant position in the social media or digital advertising markets.

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