EU antitrust chief, Margrethe Vestager, said on Wednesday she was reviewing Facebook’s response to charges the US social network provided misleading information during its bid for messaging service WhatsApp. It is thought that this probe could result in a hefty fine for the company.
In December of last year The European Commission said Facebook’s statements during the regulator’s scrutiny of the $22 billion deal in 2014 were incorrect when it said that it was unable reliably to match the two companies’ user accounts.
This was technically possible at that time, the EU Competition Commissioner said, giving Facebook until Jan. 31 to defend itself.
“We have now got the reply from Facebook and we are now analysing it,” Vestager told lawmakers during a European Parliament hearing.
The company faces a fine of as much as 1 percent of its global turnover, or about $179 million based on 2015 revenues.
Full Content: Fortune
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Federal Judge Orders Google to Open Android App Store Amid Antitrust Pressure
Oct 7, 2024 by
CPI
Federal Judge Greenlights FTC’s Antitrust Lawsuit Against Amazon, Tosses Some State Claims
Oct 7, 2024 by
CPI
Supreme Court Rejects Uber and Lyft’s Appeal in California Gig Worker Suits
Oct 7, 2024 by
CPI
Supreme Court Sidesteps 5-Hour Energy Pricing Case, Allowing Antitrust Claims to Proceed
Oct 7, 2024 by
CPI
Tempur Sealy and Mattress Firm Argue FTC Proceedings Are Unconstitutional in New Suit
Oct 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh