Chapter 2.1 Regulatory Framework
European Commission vs Facebook - WhatsApp takeover
Working for an EU institution I would like to bring to the table an example of the European Commission.
End of 2016, the European Commission sent a Statement of Objections to Facebook alleging the company provided incorrect or misleading information during the Commission's 2014 investigation under the EU Merger Regulation of Facebook's planned acquisition of WhatsApp.
Facebook now has now until 31 January 2017 to respond to the Statement of Objections. If the Commission's preliminary concerns in this case were confirmed, the Commission could impose a fine of up to 1% of Facebook's turnover (under Article 14(1) of the EU Merger Regulation).
Under EU procedures, a Statement of Objections is a formal step in an investigation by which the European Commission informs the companies concerned, in writing, of the objections raised against them. The companies can then examine the documents in the Commission's file, reply in writing and request an oral hearing to present their comments on the case to representatives of the Commission and the national competition authorities.