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Facebook Says Israel Watchdog’s Merger Claims Are Without Merit

By  |  May 12, 2021

Facebook stated it wasn’t obligated to report the transactions in question and that the Israel Competition Authority’s claims are without merit or foundation.

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    The company is cooperating fully with the inquiry, Facebook wrote in a text message.

    The authority said earlier that it’s considering fining Facebook 6 million shekels for concluding mergers in Israel without the regulator’s consent, in violation of the Economic Competition Law. 

    Israel’s Competition Authority announced on Tuesday, May 11, it is mulling imposing a fine of some NIS 6 million (US$1.8 million) on US social media giant Facebook and its Israeli arm for snapping up two Israeli companies without the consent of the authority.

    The fine is subject to a hearing and Facebook has the right to submit its comments to the authority’s director general Michal Halperin within 60 days, the authority said in a statement.

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