Meta to receive first EU antitrust fine for Facebook Marketplace
Kyiv • UNN
Meta Platforms is expecting a fine from the EU for the unfair advantage of Facebook Marketplace. The penalty could reach $13.4 billion, with a decision expected in September-October.
In a few weeks, Meta Platforms will receive its first EU antitrust fine for linking the Marketplace ad service with the social network Facebook. Retuers agency writes about it, citing sources, UNN reports.
Details
The European Commission's decision will come more than a year and a half after it accused the US tech giant of giving its Facebook Marketplace ad service an unfair advantage by merging the two services together.
The EU competition authority also claimed that Meta abused its dominance by unilaterally imposing unfair trading conditions on competing online classifieds services that advertise on Facebook or Instagram.
Meta could be fined up to $13.4 billion - or 10% of its global revenue in 2023 - although EU sanctions are usually much lower than that.
The Commission is likely to issue its decision in September or October.
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