Meta hit with $840 million fine for linking Facebook and Marketplace

Almost 2 years aft EU regulators archetypal accused Meta of “abusive practices” that gave the tech elephantine unfair marketplace advantages, the European Commission has fined Meta €797.7 cardinal (around $840 million). The operation of forcing Facebook users to beryllium exposed to Marketplace and imposing restrictions against third-party classified ads providers connected the level are the 2 main reasons cited for the fine.

In a statement, the EU’s contention caput Margrethe Vestager accused Meta of abusing its ascendant presumption successful the societal media marketplace “to payment its ain work Facebook Marketplace, thereby giving it advantages that different online classified ads work providers could not match. This is amerciable nether EU antitrust rules.”

The European Commission has ordered Meta to “bring the behaviour efficaciously to an end,” but didn’t specify what actions should beryllium taken. Meta was besides deed with a record-breaking $1.3 cardinal fine by the EU past twelvemonth for transferring the Facebook information of EU citizens to the US.

“We volition entreaty the decision,” Meta announced successful effect to the ruling. “In the meantime, we volition comply, and volition enactment rapidly and constructively to motorboat a solution which addresses the points raised.” In its response, Meta says that the EU’s determination ignores that Facebook users tin opt not to prosecute with the Marketplace work and that the lawsuit rests connected a “hypothetical imaginable to harm competition.”