Europe fined tech giant Meta, Facebook's parent company, more than $840 million for violating antitrust laws and abusing its dominant position to suppress competitors.
The European Commission argues that all Facebook users automatically access Facebook Marketplace regardless of whether they want to or not - Photo: AFP
On November 14, the European Commission announced a fine of over $840 million against Meta for abusive practices aimed at giving an advantage to its Facebook Marketplace service.
"The European Commission has fined Meta... for violating EU antitrust rules by linking its online classified advertising service Facebook Marketplace to its personal social network Facebook, and imposing unfair trading conditions on other online classified advertising providers," Reuters quoted the commission's statement as saying.
The fine comes two years after the European Commission accused the American tech giant of giving its classified advertising service, Facebook Marketplace, an unfair advantage by including it in its social media platform.
"All Facebook users automatically access and regularly come into contact with Facebook Marketplace whether they want to or not," the committee stated.
Furthermore, Meta imposed unfair conditions on competitors in the advertising service, allowing the company to "use ad-related data generated by other advertisers for the benefit of Facebook Marketplace."
Facebook launched Marketplace in 2016 and expanded to several European countries a year later.
Meta said it would appeal the decision, arguing that Facebook users have the right to choose whether or not to participate in the Marketplace. The company also argued that Europe had no evidence to support its claim of harming competitors.
However, during that time, they will comply and will work quickly to come up with a solution.
Companies risk being fined up to 10% of their global revenue for violating European antitrust laws.
Source: https://tuoitre.vn/cong-ty-me-facebook-bi-chau-au-phat-hon-840-trieu-usd-20241114223428876.htm
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