As part of a prior probe, Facebook parent company Meta Platforms Inc. (META.O.) was fined 4.8 million lira ($160,000) daily by Turkey’s competition commission, which announced its decision on Wednesday.
The Turkish Competition Board issued a statement stating that Meta was ordered to submit a document outlining compliance steps to cease its legal violations and restore competition in the market due to an inquiry into the 2022 online video advertising market.
The authority decided to impose a daily punishment starting on December 12 and continuing until a definitive compliance solution is presented to the board, claiming that it did not find the explanations in Meta’s compliance measures provided to the board satisfactory.
“We disagree with the Turkish Competition Authority’s findings but will continue to constructively cooperate with the Turkish Competition Authority to resolve the matter without delay,” stated a Meta representative. In 2022, the authorities fined Meta 346.72 million lire ($11.6 million) for breaking competition laws.
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