Facebook fined $122 million by the EU over its WhatsApp acquisition
“Today's decisions sends a clear signal to companies that they must comply with all aspects of EU merger rules, including the obligation to provide correct information,” said Commissioner Margrethe Vestager. “And it imposes a proportionate and deterrent fine on Facebook. The Commission must be able to take decisions about merger's effects on competition in full knowledge of accurate facts.”
This decision will not affect the approval of the merger, but it's still considered a very serious offense by the European Commission, since Facebook not only provided misleading information twice, but was also aware of the possibility to connect the accounts on the two platforms from the get-go. However, the company did “acknowledge its infringement of the rules and waived its procedural rights to have access to the file and to an oral hearing”, which the Commission listed as a mitigation factor.
All of the above had an impact on determining the final fine, which could have been up to 1% of the aggregated turnover of the companies.
source: European Commission via MacRumors
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