The giant social media company Facebook was found guilty and fined €110 million (about $122 million) for providing incorrect or misleading information about the merger with WhatsApp back in 2014 to the European Commission.
EU Commissioner Margrethe Vestager, said: “Today’s decision sends a clear signal to companies that they must comply with all aspects of EU merger rules, including the obligation to provide correct information. And it imposes a proportionate and deterrent fine on Facebook. The Commission must be able to take decisions about mergers’ effects on competition in full knowledge of accurate facts.”
A Facebook spokesman said, “We’ve acted in good faith since our very first interactions with the commission and we’ve sought to provide accurate information at every turn.
The errors we made in our 2014 filings were not intentional and the commission has confirmed that they did not impact the outcome of the merger review. Today’s announcement brings this matter to a close.”
The amount of €110 million is calculated to be 1% of the aggregated turnover of both companies.