EU fines Meta $842 million in a Facebook Marketplace antitrust case2024-11-14 14:59 by DanielaTags: Facebook, Marketplace
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. The European Commission said the US tech titan also abused its dominant position by imposing unfair trading conditions on other online classified ads service providers that advertise on its platforms. The European Commission has ordered Meta to "bring the conduct effectively to an end," but didn't specify what actions should be taken. Meta was also hit with a record-breaking $1.3 billion fine by the EU last year for transferring the Facebook data of EU citizens to the US. "We will appeal the decision," Meta announced in response to the ruling. "In the meantime, we will comply, and will work quickly and constructively to launch a solution which addresses the points raised." In its response, Meta says that the EU's decision ignores that Facebook users can opt not to engage with the Marketplace service and that the case rests on a "hypothetical potential to harm competition." Read more -here-
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