Agency Report
European Union regulators have hit Facebook parent Meta with a fine of nearly 800 million euros for what they called “abusive practices” involving its Marketplace online classified ads business.
The European Commission, the 27-nation bloc’s executive branch, issued the 798 million euro (£663 million) penalty after its long-running investigation found that the company abused its dominant position and engaged in anti-competitive behaviour.
Brussels accused Meta of distorting competition by tying its online classified ad business to its social network, automatically exposing Facebook users to Marketplace “whether they want it or not” and shutting out competitors.
It was also concerned that Meta was imposing unfair trading conditions with a terms of service that authorised the company to use ad-related data – generated from competitors who advertise on Facebook or Instagram – to benefit Marketplace.
Meta said in a statement that the decision fails to prove any “competitive harm” to rivals or consumers and “ignores the realities of the thriving European market for online classified listing services”.
The company vowed to appeal.