FTC Evidently Unimpressed by Google’s “Facts About Google’s Acquisition of AdMob” Web Site

When Google first announced its acquisition of mobile advertising outfit AdMob (see adjacent graph and text; click to enlarge), the company said it didn’t anticipate regulatory concerns but wouldn’t be surprised if there was some regulatory review.

A reasonable stance given the Obama administration’s stated concerns about Google’s domineering presence in the market for Internet search advertising. Prescient, too, because according to The Wall Street Journal, the Federal Trade Commission is indeed reviewing the $750 million acquisition. The FTC once-over is said to be largely procedural, and there’s no indication that the agency has found anything over which to take issue.

And the Commission may not find anything. At this point, the mobile ad market is far too immature and fragmented for Google (GOOG) to really undermine competition–even with the 30 to 40 percent share of the mobile ad market the acquisition of AdMob will give it.

That said, by purchasing AdMob, the search sovereign will become the Internet’s largest mobile advertising company, which could conceivably be its first step toward becoming a mobile ad monopoly.

Google has not yet responded to a request for comment.