The European Commission has fined Meta, the parent company of Facebook, €797.72 million for breaching EU antitrust rules by tying its Marketplace online classified ads service to the Facebook social network. In a press release, the regulators have stated that the fine takes into account the duration of the infringement and the turnover of Facebook Marketplace, and has been set in line with the 2006 guidelines on fines. There are two key issues raised by the European Commission (EC).

BING NEWS:
  • Meta fined almost €800m by EU regulators over Marketplace
    Meta has been fined almost €800m by the EU over concerns its Marketplace creates an unfair digital classified industry.
    11/14/2024 - 11:55 pm | View Link
  • Meta hit with €800m fine by EU for antitrust breach in Facebook Marketplace case
    Meta faces a €800m fine from the EU for unfairly linking Facebook Marketplace to its social network, marking the latest antitrust action by regulators against the tech giant.
    11/14/2024 - 9:07 am | View Link
  • Brussels fines Facebook parent company €800M
    The company's actions aimed "to benefit its own service Facebook Marketplace, thereby giving it advantages that other online classified ads service providers could not match," Competition Commissioner ...
    11/14/2024 - 6:39 am | View Link
  • Meta fined nearly €800m for breaking EU law over classified ads practices
    Meta has been fined nearly €800 million by Brussels after regulators accused Facebook’s parent company of stifling competition by “tying” its free Marketplace services with the social network.
    11/14/2024 - 4:47 am | View Link
  • Meta Hit with €800M EU Fine for Facebook Marketplace Push
    Meta Platforms Inc., the company behind Facebook and Instagram, has been fined €797.72 million by the European Commission for anti-competitive practices linked to its integration of Facebook ...
    11/14/2024 - 1:28 am | View Link
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