The European Commission has imposed a fine of €797.72 million on Meta, the parent company of Facebook, citing antitrust violations in the European Union, El Economista reports.
This penalty follows an investigation into Meta’s practice of linking its social media platform, Facebook, with its advertising service, Facebook Marketplace.
The Commission argues that Meta’s integration of these services gives Facebook Marketplace an unfair competitive advantage over other online advertising platforms by making it directly accessible to Facebook’s large user base, regardless of user intent.
EU Competition Commissioner Margrethe Vestager stated that Meta's approach unfairly restricts competition, making it difficult for other providers to compete on equal footing.
This integration forces Facebook’s vast user base into proximity with Facebook Marketplace, potentially limiting users’ exposure to competing services.
The fine reflects both the severity and duration of Meta’s alleged antitrust violations, with the European Commission emphasizing that it aims to have a deterrent effect.
Meta's dominance in the EU's social media and online advertising markets has raised significant competition concerns, with Brussels concluding that Meta leverages its user data from advertisers on Facebook and Instagram to benefit Marketplace over other platforms.
The investigation, launched in 2021, also explored Meta's use of advertisers’ data in ways that could disadvantage competitors in online classified ads.
The decision underscores the EU’s ongoing scrutiny of major tech companies accused of monopolistic practices and reinforces the bloc's commitment to fair market conditions.
Meta has not yet indicated if it will appeal the decision, but the ruling highlights the EU’s efforts to hold large technology firms accountable for practices that could hinder competition.
