SATURDAY, 25 NOV 2017

 

CONNECT

Facebook Linked In Twitter
MTN_07/07-10/04_728x90px
GloriaJeans_266x90px
IMH LTD

Syllouris and Zhang Reaffirm Cyprus - China Close Ties of Friendship

Anastasiades: A New Cyprus Effort Must Be Well Prepared

IMH LTD
MTN_07/07-10/04_468x60px

INTERNATIONAL

brought to you by CIPA

Facebook Fined €110M over WhatsApp Deal

Facebook Fined €110M over WhatsApp Deal

European Union antitrust regulators fined Facebook 110 million euros ($122 million) on May 18 for giving misleading information during a vetting of its deal to acquire messaging service WhatsApp in 2014, Reuters reports.

Calling it a "proportionate and deterrent fine", the European Commission, which acts as the EU's competition watchdog, said Facebook had said it could not automatically match user accounts on its namesake platform and WhatsApp but two years later launched a service that did exactly that.

"The Commission has found that, contrary to Facebook's statements in the 2014 merger review process, the technical possibility of automatically matching Facebook and WhatsApp users' identities already existed in 2014, and that Facebook staff were aware of such a possibility," the Commission said.

Facebook said in a statement the errors made in its 2014 filings were not intentional and that the Commission had confirmed they had not affected the outcome of the merger review.

"Today's announcement brings this matter to a close," Facebook said.

The fine would not reverse the Commission's decision to clear the purchase of WhatsApp and was unrelated to separate investigations into data protection issues, it added.

The Commission could have fined Facebook up to 1 percent of its turnover - which would have been $276 million based on 2016 results - but said that Facebook had cooperated with the proceedings and acknowledged its infringement.

According to Reuters, the EU sanction comes after Facebook received a separate 150,000-euro fine on Tuesday by a French data watchdog for failing to prevent its users' data being accessed by advertisers.

Last week the Italian antitrust authorities levied a 3 million-euro fine on WhatsApp for allegedly obliging users to agree to share their personal data with Facebook.

MORE ON INTERNATIONAL

Juncker: Meeting with May Will Show If Brexit Progress Made

The president of the European Commission Jean-Claude Juncker said that a meeting with ...

Multiyork Furnishing Collapse Puts 550 Jobs under Threat

The UK furniture retailer has gone into administration, putting 550 jobs under threat. ...

David King Discusses London Property Market

David King, Director, Consulco Real Estate, spoke at Consulco’s ‘English ...

FROM AROUND GOLDNEWS

   

Reddy Reiterates New Zealand‘s Support towards Cyprus Settlement

New Zealand Governor-General Patsy Reddy has reiterated her country’s support to a settlement of the Cyprus problem, strongly commending the firm ...
   

Rahmon Stresses Need For Further Development of Ties with Cyprus

President of Tajikistan has stressed the need for further development of bilateral ties with Cyprus, especially in the fields of economy and tourism. President ...
   

Pamboridis Discusses the Cyprus NHS at CIBA Event

The Minister of Health, Dr. George Pamboridis accepted an invitation from the Cyprus International Businesses Association (CIBA), to inform the members ...
   

Juncker: Meeting with May Will Show If Brexit Progress Made

The president of the European Commission Jean-Claude Juncker said that a meeting with British Prime Minister Theresa May on December 4 will allow the EU to see ...
   

Multiyork Furnishing Collapse Puts 550 Jobs under Threat

The UK furniture retailer has gone into administration, putting 550 jobs under threat. The retailer will trade until Christmas at the earliest while ...
   

Kadis Highlights Need for Action to Promote Sustainable Development

Action needs to be taken, in order for the Education for Sustainable Development (ESD) to respond to the needs of the international community for social, ...
   

Pamboridis Performs Opening of HIV Checkpoint

In October, the Minister of Health George Pamboridis, on behalf of the President Nicos Anastasiades, performed the official opening of the first permanent HIV ...
   

Infocredit & LexisNexis Among Exhibitors at the 8th Annual AML and Financial Crime Conference

Infocredit Group and its strategic partner LexisNexis Risk Solutions were among the main exhibitors at the ACAMS 8th Annual AML and Financial Crime Conference ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Deloitte_2016_300x250px
Gold_Issue_300x250px

IMH LTD