The EU's competition chief Margrethe Vestager announced Thursday the EU is fining Facebook 110 million euros (roughly $122 million) for giving "incorrect or misleading" information during the Commission's 2014 review of Facebook's acquisition of WhatsApp.
Why it matters: Experts have pointed out that Facebook's ability to identify WhatsApp as a lucrative acquisition in 2014 poses an antitrust issue. Facebook's ability to analyze the enormous amounts of data it collects about users online and offline habits helps it make strategic investments that other companies would be unable to assess.
Double whammy: The penalty comes one day after French and Dutch courts ruled that Facebook had violated European data privacy standards. Facebook was sanctioned 150,000 euros as a result.