EU Hits Meta with Record Fine Over Facebook Marketplace Practices

The European Commission has fined Meta Platforms €797.72 million for antitrust violations involving Facebook Marketplace. The Commission contends that Meta unfairly tied Marketplace to Facebook, disadvantaging other online services. Meta plans to appeal but will comply while seeking a constructive resolution.

The European Commission has imposed a hefty fine of €797.72 million on Meta Platforms, citing antitrust violations related to Facebook Marketplace. This decision confirms earlier reports and highlights concerns over unfair competition.

According to the Commission, Meta breached EU rules by linking its online classified ads service, Facebook Marketplace, with its vast personal social network, Facebook. It also enforced unfair trading conditions on other classified ads service providers, said the Commission. Meta has announced plans to appeal but has committed to complying and working on a solution to address the concerns.

This action follows a two-year investigation started in June 2021, culminating in December 2022 with the EU expressing worries over Meta's alleged anti-competitive behavior. While Meta asserts that users can opt not to engage with Marketplace, the Commission argues the bundle could hinder competition, despite a lack of direct evidence of harm.

(With inputs from agencies.)