There is an additional FAQ page for european users [0]
Via Tweet from Niamh Sweeney, Director of Policy for WhatsApp, EMEA [1].
>It has been incorrectly reported that WhatsApp's latest Terms of Service and Privacy Policy update requires users in the European Region to agree to the sharing of data with Facebook for ads purposes in order to continue using the service. This is false.
[0] https://faq.whatsapp.com/general/security-and-privacy/how-we...
[1] https://twitter.com/NiamhSweeneyNYC/status/13471849630163394...