Britain Regulator Fines Facebook $70 Million

3 months ago 78

Britain Regulator Fines Facebook $70 Million

By Newsy Staff
October 21, 2021

October 21, 2021

The contention regulator said the institution breached an bid erstwhile it purchased Giphy.

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The troubles for Facebook aren't implicit conscionable yet. 

Britain's contention regulator has fined the institution 70-million dollars for breaching an bid during its acquisition of Gif level - Giphy.

The "competition and markets authority" states – contempt aggregate warnings – Facebook purposely failed to comply with the bid by not providing the required information.

The punishment serves arsenic a informing that nary institution is supra the law. 

Facebook responded saying, "We volition reappraisal the CMAs determination and see our options."