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Israel considers fining Facebook for anti-monopoly violations - World News

2021-05-11 12:05:26 GMT2021-05-11 20:05:26(Beijing Time) Xinhua English
JERUSALEM, May 11 (Xinhua) Israel is considering to fine the U.S. social media giant Facebook, the Israel Competition Authority (ICA) said on Tuesday.
The fine, 6 million new shekels (1.83 million U.S. dollars), is considered due to Facebook s violation of Israel s Economic Competition Law (ECL) by consummating merger transactions in Israel without the consent of Director General for Competition.
Michal Halperin, the director general, on Tuesday notified Facebook about the fine in a hearing letter, and Facebook has the right to submit its argument within 60 days.
The company purchased two Israeli companies in 2018 and 2019, respectively, without obtaining Halperin s consent. ....

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Facebook faces $1.8 million fine for buying firms without Israeli regulator nod

Shoshanna Solomon is The Times of Israel s Startups and Business reporter
Facebook CEO Mark Zuckerberg testifies before a House Financial Services Committee hearing on Capitol Hill in Washington, October 23, 2019. (AP Photo/Andrew Harnik)
Israel’s Competition Authority said on Tuesday it is mulling imposing a fine of some NIS 6 million ($1.8 million) on US social media giant Facebook and its Israeli arm for snapping up two Israeli companies without the consent of the authority.
The fine is subject to a hearing and Facebook has the right to submit its comments to the authority’s director general Michal Halperin within 60 days, the authority said in a statement. ....

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