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.
https://www.tipranks.com/news/facebook-facing-fine-over-unconsented-israeli-acquisitions