THURSDAY, 21 SEP 2017

 

CONNECT

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

Fokaides: Relations Between Cyprus and Austria are Improving

Kotzias Shares Common Position On Cyprus Issue

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

Al Jazeera Blocked by Snapchat in Saudi Arabia

Social media platform Snapchat has blocked access to Al Jazeera content in Saudi Arabia. ...

Merkel: Car Industry Must Work to Rebuild Trust

Chancellor Angela Merkel said Germany’s car industry should do everything in its ...

EU Lost Up To €5.4b In Tax Revenues From Google, Facebook

European Union states could have lost 5.4 billion Euros in tax revenues from Google and ...

FROM AROUND GOLDNEWS

   

Looking for new talent? Meet your future employee at the ‘Get a Job’ Fair

The Representation of the European Commission in Cyprus and the EURES network are organizing the ‘Get a Job’ Fair on Monday, 6 November at the Bank ...
   

Meet Experts from the International Scene of Regulatory Compliance

Bank of Cyprus is presenting the 3rd International Compliance Forum on Friday, 6th October 2017 at the Hilton Park Hotel in Nicosia. IMH and GOLD magazine are ...
   

Virardi in New York

Cypriot speaker, trainer and author Michael Virardi is expanding his horizons once more, having been engaged to lead a one-day seminar to The American Club in ...
   

Cdbbank Supports CIPA’s Efforts to Attract Foreign Investments

Demonstrating its support for initiatives that encourage entrepreneurship and promote Cyprus as a destination for international investors, cdbbank (Cyprus ...
   

EY Cyprus and the CCCI Launch the 1st Family Business Study Report

In response to the growing demand from family businesses for expertise and thought leadership focused on strategic growth, succession planning and agile ...
   

Anastasiades Discusses UNFICYP with Russian and Chinese FMs

Cyprus President Nicos Anastasiades has discussed the need for the presence of UNFICYP, the UN peacekeeping mission in Cyprus, to continue while there are no ...
   

Kasoulides Holds Contacts in NYC, on the Sidelines of UNGA

Foreign Minister Ioannis Kasoulides held a series of meetings on Tuesday 19 September, on the sidelines of the 72nd General Assembly of the United Nations ...
   

Kotzias Shares Common Position On Cyprus Issue

Cyprus President Nicos Anastasiades and Greek Foreign Minister Nikos Kotzias have reiterated that they have a common position on the Cyprus problem, which is ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Gaming Show_07/09-21/09_300x250px
Gold_Issue_300x250px

IMH LTD