European Union requires Meta to pay USD800M penalty
Date
11/24/2024 8:29:34 AM
(MENAFN) The European Commission has fined Meta Platforms €797 million ($842 million) for what it describes as abusive practices that allegedly gave facebook Marketplace an unfair advantage, a platform owned and operated by Meta.
In a statement issued on Thursday, the Commission alleged that Meta had breached EU antitrust rules “by tying its online classified ads service Facebook Marketplace to its personal social Network Facebook and by imposing unfair trading conditions on other online classified ads service providers.”
The EU’s ruling argued that Meta had engaged in an illegal “tie” by requiring Facebook users to access Facebook Marketplace as part of the social media platform.
Meta has stated it will appeal the fine, arguing that the ruling from Brussels “ignored the fact that Facebook users had the option of choosing whether or not to engage with the Marketplace service.”
The European Commission first launched formal proceedings into Meta's suspected anticompetitive practices in 2021, raising concerns about tying Facebook to its classified ad services in December 2022.
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