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Italy watchdog threatens Facebook with another fine over improper use of data

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01/24/2020 | 09:45am EST
Logo of Facebook is seen in Davos

Italy's competition watchdog said on Friday it has launched proceedings against Facebook for non-compliance with a request to correct improper commercial practices in the group's treatment of user data.

In November 2018 the watchdog ruled that Facebook had not informed users properly about the collection and use, for commercial reasons, of the data they release.

It fined the U.S. company 5 million euros ($5.5 million) and asked it to publish an amending statement on the homepage of its website for Italy, on the Facebook app and on the personal page of each registered Italian user.

On Friday the regulator said in a statement that Facebook had not done so and the company could face another fine of up to 5 million euros.

A spokesperson for Facebook said the group was reviewing the decision.

The company made changes last year, including to its Terms of Service, to further clarify how it makes money, the spokesperson said.

"These changes were part of the group's ongoing commitment to give people more transparency and control over their information."

(Reporting by Sabina Suzzi and Stephen Jewkes; Editing by Susan Fenton)

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Financials (USD)
Sales 2020 85 662 M
EBIT 2020 31 475 M
Net income 2020 25 987 M
Finance 2020 68 372 M
Yield 2020 -
P/E ratio 2020 24,1x
P/E ratio 2021 20,1x
EV / Sales2020 6,44x
EV / Sales2021 5,20x
Capitalization 620 B
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Mean consensus BUY
Number of Analysts 52
Average target price 244,76  $
Last Close Price 217,49  $
Spread / Highest target 37,9%
Spread / Average Target 12,5%
Spread / Lowest Target -44,8%
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Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
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