Facebook faces Israel fine for buying companies without consent

Jerusalem: Israel’s Competition Authority said on Tuesday it was considering imposing a fine of about 6 million shekels ($1.8 million) on Facebook Inc. and its Israeli unit for buying two Israeli companies without the agency’s consent.

It said the fine is subject to a hearing and Facebook has the right to submit its arguments to the authority’s director general Michal Halperin within 60 days.

The authority said it sent a hearing letter to Facebook after it found the social media giant purchased two Israeli companies—RedKix Inc. in 2018 and Service Friend Ltd. in 2019—without approval and contrary to Israel’s Economic Competition Law.