EU fines Meta €797 million for Facebook Marketplace antitrust violations
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On Thursday, the European Commission fined Meta Platforms €797.72 million (US$840.24 million) for antitrust violations linked to Facebook Marketplace.
“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 Commission said.
Meta rejected the Commission’s findings, stating it would appeal the decision, but will work quickly to address the concerns raised in the meantime.
Meta argued the Commission had provided “no evidence” of harm to either competitors or consumers, and criticized the ruling for ignoring “market realities” and that the decision “will only serve to protect incumbent marketplaces from competition.”
Meta, which launched Facebook Marketplace in 2016 and expanded it to Europe in 2017, maintains that users can choose whether to engage with the service, and that the Commission’s decision overlooks the fact that many users do not interact with Marketplace.
Under EU antitrust laws, companies can face fines up to 10% of their global turnover for violations.
