Company said to be negotiating settlement with FTC after revelations it inappropriately shared 87m users’ information

The US government and Facebook are negotiating a settlement over the company’s privacy lapses that could require the online social network to pay a multibillion-dollar fine, the Washington Post reported on Thursday.

The newspaper said that the US Federal Trade Commission and Facebook had not agreed on an amount, citing two people it said were familiar with the matter. Facebook reported fourth-quarter revenue of $16.9bn and profit of $6.9bn.

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Read More Facebook may face multibillion-dollar US fine over privacy lapses – report

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