Competition Authority imposes daily fine of 4.7 million TL on Meta – Latest Economy News
Meta Faces Investigation by Competition Authority for Abuse of Dominant Position
In a recent announcement by the Competition Authority, it was revealed that an investigation has been initiated against Meta on suspicion of abusing its dominant position by linking Threads and Instagram applications.
The statement released by the Competition Authority mentioned that the investigation was launched in accordance with the Competition Board’s decision dated 23.11.2023 and numbered 23-54/1031-M. As a precaution to prevent irreparable damages, it was decided that the data obtained by Meta Platforms Inc. through the Threads application will be merged with the data obtained from the Instagram application until a final decision is reached.
Additionally, Meta has failed to meet the obligations imposed by the Competition Authority, leading to the imposition of a daily fine on the company. It was previously determined that Meta hinders the activities of its competitors in the social networking services and online display advertising markets by combining data from Facebook, Instagram, and WhatsApp services, creating a barrier to market entry.
Despite being reminded of its obligations and suggestions for compliance, Meta’s efforts were deemed insufficient. Therefore, a daily fine of 4.8 million lira has been imposed on the company, effective from December 12, 2023. This fine will continue to be charged each day until Meta fulfills the compliance measure proposed by the Competition Authority.
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