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EU fines Meta €797 million over antitrust breaches
The EU Commission fined tech giant Meta for practices favoring Facebook Marketplace that it said violated EU competition law.
"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. The Commission said that Facebook Marketplace enjoyed a "substantial distribution advantage which competitors cannot match" due to it being tied to the social media platform. "It is disappointing that the Commission has chosen to take regulatory action against a free and innovative service built to meet consumer demand," the company said.
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