On May 19, 2017, the European Commission imposed a fine of € 110 million on Facebook for having provided misleading information in responses to requests for information during the merger control proceedings regarding the acquisition of WhatsApp in 2014. The Commission has the power to impose fines for providing misleading or incorrect information in merger proceedings, in the amount of up to 1% of a company’s aggregated worldwide turnover. This is now the first time that the Commission has used this power. The fine on Facebook is relatively high, but remained below the 1% turnover threshold, given that the Commission found mitigating circumstances, inter alia that Facebook cooperated in the infringement proceedings. Silke Heinz is quoted on the decision in Global Competition Review, see here.
- Bundeskartellamt said to oppose Siemens/Alstom merger
- Juve recommends Heinz & Zagrosek for antitrust law in Handbook Commercial Law Firms 2019
- German Ministry for Economics publishes study on modernizing the competition rules on unilateral conduct of companies with market power (2)
- European Commission opens formal investigation into German car manufacturers
- German Ministry for Economics publishes study on modernizing the competition rules on unilateral conduct of companies with market power