Facebook was fined a whopping કરોડ 50 million by the UK

- Social media giant violates Giffy's takeover rules

- Facebook loses appeal against anti-competition unit in two different courts: Compliance officer changed twice without approval

LONDON: Britain's competition regulator has fined Facebook કરોડ 50 million for violating the rules on Giffy's purchase. The Competition and Markets Authority said Facebook failed to provide the required information during the investigation. He said they had warned the company several times and then decided that Facebook had failed to comply with the rules. He ignored repeated warnings about this.

Authorities said the company first violated the provisions by not providing them with the required information. Such orders are issued at the outset of the merger process and are intended to prevent mergers of companies until further notice.

The company has been fined કરોડ 50 million, or ૫ 290 million, for violating the rules. The fine has been slapped on its Chief Compliance Officer for changing without permission.

Joel Bamford, senior director of CMA's merger, said: "We warned Facebook that its refusal to provide us with important information was in fact a breach of our mandate. Failed to. This is a warning to any company that considers itself above the law.

Facebook said it would review the decision and consider its options. "We strongly object to the CMA's improper decision to punish us," the media giant said. We have tried our best to follow the rules, which are CMA accredited.

Authorities launched an investigation in June last year, fearing a significant drop in competition when the gif sharing platform was taken over by social media.