Google’s AdMob deal may be derailed by the Federal Trade Commission.

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Let’s promise the good folks at AdMob didn’t go ahead and bargain Ferraris because the Federal Trade Commission is preparing an internal litigation team to stopover Google (NSDQ: GOOG) from buying the mobile advertiser, according to a report The Wall Street Journal.

If you remember, the hunt giant shelled out about $750 million late last class to nab AdMob away from Apple (NSDQ: AAPL). The mobile advertiser has been gaining traction by providing ways for app developers (particularly on the iPhone) to monetize their content. Google sees the smartphone as the next major platforms to bring its lucrative ad platforms to and the AdMob trade seemed like a goodness, long-terminus strategic investiture.

Regulators are already starting to get wary of how much influence Google has in full general, so the FTC stepped in multiple multiplication to review the deal. The reputation said the Federal Trade Commission has’t made a final decision but it is getting its lawyers lined up just in case.

While the mobile ad quad will eventually be the holy place Holy Grail (particularly once you integrate locating functionality), the U.S. marketplace only accounted for about $416 million last class, according to data from eMarketer. It’s goodness that the regulators ar pickings precautions to not let Google swallow up this manufacture, but there ar no open signboard that the hunt giant will be able to easily valse in and sovereignty supreme. At least ace competitor, 4INFO, wants the deal to go through.

“This is such a rapidly development and evolving industry that I rich person no concerns about Google and AdMob dominating this quad,” said in a letter to the FTC.

Funnily sufficiency, Apple may be the ones to proceeds the press off Google if it goes ahead and introduces its iAd mobile publicizing platforms for the iPhone and iPad later this workweek. This platforms should be built around Quattro Wireless engineering and it promises to go app developers an elegant way to monetize their employment. Google would be able to point to this as a signboard that there’s legitimate competition out there, and I’d rich person to agree with that.

[Via Wall Street Journal (subscription required)]