On May 18, 2017, the European Commission (the “Commission”) fined Facebook €110 million for providing incorrect or misleading information during its 2014 investigation of its acquisition of WhatsApp [1] The magnitude of the fine dwarfs the few penalties the Commission has imposed in the past for similar infractions and, as Commissioner Vestager made clear, “sends a clear signal to companies that they must comply with all aspects of EU merger rules, including the obligation to provide correct information.” I. The EU Merger Regulation The EU Merger Regulation empowers the Commission to fine companies for providing incorrect or misleading information [2]. That power has been used only rarely since the entry into force of the EU Merger Regulation in 1990 [3]. Prior to the
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The EU Commission fines a company for providing incorrect or misleading information during its investigations on a merger (Facebook / WhatsApp)
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