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If it knew then what it knows now, the European Union might not have approved Facebook's $19 billion purchase of WhatsApp.On Tuesday, the European Commission accused the social media giant of providing "incorrect or misleading information" to investigators charged with taking a closer look at the 2014 acquisition.As a result, Facebook could be looking at a fine of up to 1 percent of its 2014 global revenue.
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The European Commission has alleged that Facebook gave misleading or untrue answers during the investigation to approve the WhatsApp acquisition by Facebook in 2014.The European Commission evaluated various issues with regard to the acquisition, and also sought feedback from rivals.The acquisition was approved by the European Union considering the various issues involved, and the new investigation will have no impact on the decision.
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ADVERTISEMENTLONDON -- In a setback for Facebook, the European Commission (EC) has charged the social media giant with providing "incorrect information" during the investigation into its acquisition of the popular mobile messaging app WhatsApp.Facebook could face fine of up to 1 per cent of its global turnover in 2014 (over $10 billion at that time) when the merger was approved, The Guardian reported on Wednesday."Our timely and effective review of mergers depends on the accuracy of the information provided by the companies involved.
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EU Upset with Facebook Over WhatsApp Purchase
If it knew then what it knows now, the European Union might not have approved Facebook's $19 billion purchase of WhatsApp.On Tuesday, the European Commission accused the social media giant of providing "incorrect or misleading information" to investigators charged with taking a closer look at the 2014 acquisition.As a result, Facebook could be looking at a fine of up to 1 percent of its 2014 global revenue.
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EU accuses Facebook of misleading information over WhatsApp data sharing policy – Tech2
The European Commission has alleged that Facebook gave misleading or untrue answers during the investigation to approve the WhatsApp acquisition by Facebook in 2014.The European Commission evaluated various issues with regard to the acquisition, and also sought feedback from rivals.The acquisition was approved by the European Union considering the various issues involved, and the new investigation will have no impact on the decision.
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EU Accuses Facebook For Giving Misleading Information About WhatsApp Deal
ADVERTISEMENTLONDON -- In a setback for Facebook, the European Commission (EC) has charged the social media giant with providing "incorrect information" during the investigation into its acquisition of the popular mobile messaging app WhatsApp.Facebook could face fine of up to 1 per cent of its global turnover in 2014 (over $10 billion at that time) when the merger was approved, The Guardian reported on Wednesday."Our timely and effective review of mergers depends on the accuracy of the information provided by the companies involved.
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