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EU fines Meta $1.1b for Facebook's abusive ad practices
November 16, 2024
|The Straits Times
Tech giant breaches antitrust rules with auto access to classified ads on Marketplace
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BRUSSELS - The European Union fined online giant Meta almost €800 million (S$1.13 billion) on Nov 14 for breaching antitrust rules by giving users of its Facebook social network automatic access to classified advertisements service Facebook Marketplace.
The European Commission said the US tech titan also abused its dominant position by imposing unfair trading conditions on other online classified ads service providers that advertise on its platforms.
"This is illegal under EU antitrust rules. Meta must now stop this behaviour," the bloc's competition chief, Ms Margrethe Vestager, said in a statement.
Meta said it would appeal against the decision, alleging it ignored "the realities of the thriving European market for online classified listing services".
"Facebook users can choose whether or not to engage with Marketplace, and many don't. The reality is that people use Facebook Marketplace because they want to, not because they have to," it said in a statement.
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