FILE PHOTO: The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo
ISTANBUL (Reuters) -Turkey's competition authority said on Wednesday 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.
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 reestablish 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.
"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", a spokesperson for Meta said.
In 2022, the authority decided to fine Meta 346.72 million lira ($11.6 million) for violating competition law.
($1 = 29.9660 liras)
(Reporting by Ezgi Erkoyun and Ebru TuncayWriting by Huseyin Hayatsever Editing by Jason Neely and Mark Potter)
