Meta Fined €798 Million by EU Over Abusing Classified Ads Dominance
- Facebook owned gets its first ever EU antitrust fine
- Meta plans to appeal, says EU ignored market ‘realities’
The decision follows a probe into how Meta leverages Facebook’s billions of users to squeeze out rivals.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Meta Platforms Inc. was hit with a €798 million ($841 million) fine by European Union regulators by tying its Facebook Marketplace service to the social network, the US tech giant’s first ever penalty for EU antitrust violations.
In a groundbreaking decision, the European Commission ordered Meta to stop tying its classified-ads service to Facebook’s sprawling social media platform, and refrain from imposing unfair trading conditions on rival second-hand goods platforms.