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EU fines Meta €797 million over abusive practices benefiting Facebook Marketplace

The European Commission on Thursday fined Meta Platforms €797.72 million ($840.24 million) over abusive practices benefiting Facebook Marketplace, it said in a statement, confirming an earlier report by Reuters.

Meta, the parent company of social networking site Facebook, has faced calls to do more about financial scams on its platforms. "The European Commission has fined Meta ... for breaching 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 European Commission said. Meta said it will appeal the decision, but in the meantime, it will comply and will work quickly and constructively to launch a solution which addresses the points raised.

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