Browsing: WhatsApp

Telecommunications carriers have long grumbled that they spend a fortune building the world’s data networks only to watch the US technology giants reap most of the benefits. Now they fear Silicon Valley will take away their customers, too.

Facebook bestrides the Earth. It attracts nearly 1.5 billion users a day, commands a fifth of global online advertising revenue and has a market capitalisation that exceeds the GDP of many countries. But breaking it up is the wrong approach.