EU slaps Meta with a nearly 800 million euro fine for engaging in 'abusive' Marketplace practices

European Union regulators fined Facebook parent Meta nearly 800 million euros for “abusive practices” in its Marketplace online classified ads business, marking the first antitrust penalty imposed on the company. The European Commission found Meta abused its dominant position and engaged in anti-competitive behavior by tying Marketplace to its social network and using ad-related data to benefit its platform. Despite Meta’s claims of no competitive harm, the company has vowed to comply with the Commission’s order to end the conduct and not repeat it, while also planning to appeal the decision.

Full Article