Facebook faces Israel fine for buying companies without consent
The Hindu
Under the law, an entity which holds 50% or more in any relevant market is required to obtain the director general's consent before making any transaction that constitutes a "merger of companies".
(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) Israel's Competition Authority said on Tuesday it was considering imposing a fine of about 6 million shekels ($1.8 million) on Facebook and its Israeli unit for buying two Israeli companies without the agency's consent. It said the fine is subject to a hearing and Facebook has the right to submit its arguments to the authority's director general Michal Halperin within 60 days.
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