#AceNewsReport – May.18:.On Thursday, the European Union’s powerful antitrust chief fined Facebook 110 million euros, or about $122 million, for giving misleading statements during the company’s $19 billion acquisition of the internet messaging service #WhatsApp in 2014 #AceNewsDesk
EU Fines Facebook $122 Million Over Misleading Information On WhatsApp Deal Published on May 18, 2017 at 04:40AM From a report: During the review process, the EC discussed the possibility of Facebook matching its users’ accounts with WhatsApp users’ accounts, to which Facebook replied that it “would be unable to establish reliable automated matching” between the two. Since then, though, the company has found a way, and it seems pretty straightforward. Unhappy with this, the EC today revealed a “proportionate and deterrent fine.”
How it acts as a deterrent, however, is unclear. Facebook was at risk of a fine totalling 1 percent of its turnover, which would have been closer to 200 million euros, but the figure was lower due to its compliance during the investigation.
“The commission has found that, contrary to Facebook’s statements in the 2014 mer ger 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 EC said.
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