EU fines Meta $840 million for 'abusive' Facebook ad practices
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4 months, 2 weeks ago

EU fines Meta $840 million for 'abusive' Facebook ad practices

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The EU fined online giant Meta almost 800 million euros on Thursday for breaching antitrust rules by giving users of its Facebook social network automatic access to classified ads service Facebook Marketplace. - 'Abusive practices' - Detailing what it termed "abusive practices" by Meta, the commission said that because Facebook Marketplace was tied to Facebook, the former enjoyed a "substantial distribution advantage which competitors cannot match." Additionally Meta imposed unfair conditions on competitors in the classified ads service who advertised on Facebook and Instagram, the commission said. The EU fined the company 797.72 million euros, a sum the commission said took into account the "duration and gravity of the infringement", as well as the turnover of Meta and Facebook Marketplace.

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