© Reuters. The logo of Meta Platforms is seen in Davos, Switzerland, May 22, 2022. REUTERS/Arnd Wiegmann/File Photo
ISTANBUL (Reuters) – Turkey’s competition authority said on Wednesday that it had fined Facebook-parent Meta Platforms Inc 346.72 million lira ($18.63 million) for violating competition law.
In a statement, the Turkish Competition Board said it decided the company obstructed its competitors operating in social network services and online advertising markets as it merged data collected through Facebook (NASDAQ:), Instagram and WhatsApp.
The fine was imposed according to the 2021 annual income of the company, the authority said.
($1 = 18.6080 liras)
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