We haven’t heard a peep about the monumental acquisition of Admob by Google that would give the search/mobile giant unprecedented market share in the mobile ad space. Or should we say “hopeful aquisition”? According to Bloomberg the chances that the deal is completed are ominious.

Bloomberg says US Regulators are “seeking sworn declarations from Google competitors and advertisers as part of their probe of the Internet company’s bid to buy AdMob, indicating the government may challenge the deal.”

After purchasing AdMob for $750 million dollars, the Federal Trade Commission is investigating whether Google will have an unfair advantage and decrease competition in the mobile advertising market. There are a couple recent events Google can mention that should easily prove their points and allow them to prevail:

• Look at what AT&T did with the Backflip
• Look at what Motorola and Microsoft are doing with Bing