Facebook fined €110 million for misleading European Commission over merger

Facebook must pay a €110 million (US$123 million) for misleading the European Commission during an investigation of its takeover of WhatsApp.

The fine is for telling the Commission it would not be possible to reliably match Facebook and WhatsApp accounts for the same user — something that would allow the company to better target advertising across the two platforms.

The move shows that enterprises need to be up front with regulators about their ability to process users’ personal information, and not try to play it down — especially when making acquisitions.

“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,” said European Commissioner for Competition Margrethe Vestager.

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Source: http://www.cio.com

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