Facebook stated it wasn’t obligated to report the transactions in question and that the Israel Competition Authority’s claims are without merit or foundation.
The company is cooperating fully with the inquiry, Facebook wrote in a text message.
The authority said earlier that it’s considering fining Facebook 6 million shekels for concluding mergers in Israel without the regulator’s consent, in violation of the Economic Competition Law.
Israel’s Competition Authority announced on Tuesday, May 11, it is mulling imposing a fine of some NIS 6 million (US$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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