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EU slaps Meta with a nearly 800 million euro fine for engaging in 'abusive' Marketplace practices
European Union regulators hit Facebook parent Meta with a fine of nearly 800 million euros on Thursday for what it calls “abusive practices” involving its Marketplace online classified ads business.
LONDON (AP) — European Union regulators hit Facebook parent Meta with a fine of nearly 800 million euros on Thursday for what they call “abusive practices” involving its Marketplace online classified ads business. It was also concerned that Meta was imposing unfair trading conditions with terms of service that authorized the company to use ad-related data — generated from competing classified ad platforms who advertise on Facebook or Instagram — to benefit Marketplace. Meta’s practices gave it “advantages that other online classified ads service providers could not match,” Margrethe Vestager, the commission’s executive vice-president in charge of competition policy, said in a press release “This is illegal under EU antitrust rules.
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