EU Fines Meta Nearly €800 Million for Facebook Marketplace Antitrust Breach

The European Commission has imposed a fine of €797.72 million on Meta for violating EU antitrust laws. The penalty stems from the integration of Facebook Marketplace with its social network, creating unfair advantages and limiting competition. Meta plans to appeal, claiming the decision overlooks market dynamics.

The European Commission has levied a significant fine on Meta, amounting to approximately €800 million, for violations of EU antitrust regulations through its Facebook Marketplace platform. The commission's statement indicated that Meta breached rules by linking its classified ads service to its social network, imposing conditions on market competitors.

Commission findings revealed that Facebook Marketplace was automatically accessible to all Facebook users, providing it with an undue advantage over competitors who cannot replicate such distribution. This integration, deemed foreclosure of competition, has prompted the hefty financial penalty.

Margrethe Vestager, responsible for competition policy within the European Commission, emphasized that Meta's dominance in social network services and online advertising was unfairly exploited. Despite Meta's assertion that their Marketplace responds to consumer demand, they plan to appeal, contesting the commission's claims of competitive harm.

(With inputs from agencies.)