Facebook Facing Fine Over Unconsented Israeli Acquisitions?
Israel’s antitrust regulator has Facebook (FB) in its crosshairs on
matters related to the social media giant’s acquisition practices.
The Israeli Competition Authority (ICA) accuses Facebook of
purchasing two Israeli startups without its consent, which is
required by laws regulating economic competition in the country. As
a result, the authority is considering hitting Facebook with a fine
of about $1.8 million. However, Facebook will have the space to
defend itself before the ICA fine can take effect. The company has
to act within 60 days. The acquisitions at the center of the
antitrust issue are RedKix, which Facebook bought in 2018, and
Servicefriend, which it bought in 2019.