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Turkish competition board to fine Meta Platforms $160,000 a day

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Turkey’s competition authority said on Wednesday that it had decided to fine Facebook parent Meta Platforms Inc 4.8 million lira ($160,000) a day for failing to provide sufficient documentation as part of a previous investigation, Reuters reported.

In a statement the Turkish Competition Board said the result of a 2022 online video advertising market investigation required Meta to submit a document detailing compliance measures to stop its violation of the law and to re-establish competition in the market.

The authority said it did not find explanations in Meta’s compliance measures submitted to the board sufficient and decided to impose a daily fine effective from Dec. 12 until a final compliance solution is submitted to the board.

In 2022 the authority decided to fine Meta Platforms 346.72 million lira ($11.57 million) for violation of competition law.

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