Australian regulator says the probe if tech giants track 5 investigations

SYDNEY: Australia's competition regulator says it has five surveys due to its market power analysis and public influence from tech giants like Facebook Inc. and Alphabet Inc.'s Google.

"We have five investigations underway from this report," said Rapporteur Rod Sims, Rapporteur of the Australian Competition and Consumer Commission (ACCC), reporters in Sydney.

"Some of them claim that they could be under competition law that would go to market power issues, "he added without specifying which companies they affected." Five surveys are quite a lot. "

ACCC's report recommended that a new supervisory body be set up to monitor Facebook and Google and their dominance in the online advertising and news markets.

(Reporting by Tom Westbrook; Editing Muralikumar Anantharaman)