On November 14, the European Union (EU) fined Meta (based in the US) nearly 800 million euros for allegedly violating antitrust laws.
According to Reuters, the EU's fine amounts to 797 million euros (approximately 840 million USD) for linking personal Facebook accounts (a subsidiary of Meta) to the online classifieds platform Facebook Marketplace.
The EU argues that this violated the bloc's antitrust laws. Furthermore, the European Commission accused Meta of abusing its dominant position and imposing unfair trading conditions on other online advertisers.
The EU has just imposed a fine of nearly 800 million euros on Meta.
In a statement, Meta affirmed its intention to appeal, emphasizing that the EU had not presented any evidence of harm to competitors or consumers. However, the US technology company added that it would comply with the regulations and offer constructive solutions to the issues raised.
Back in 2022, the European Commission accused Meta of unfair competition, claiming that merging Facebook Marketplace and Facebook profiles into a single app, which experts believed would allow Marketplace to leverage Facebook user data to suggest relevant advertisements.
The EU ruling on November 14th stated that Meta's inclusion of Marketplace on the Facebook app for individual users constituted "illegal linking." However, Meta countered that Facebook users could choose whether or not to participate in Marketplace. The company also raised concerns that the European Commission asserted Marketplace posed a risk to the development of existing large online marketplaces in the EU but failed to provide any evidence of harm to competitors.
Facebook launched its Marketplace classifieds platform in 2016 and began operating in the EU market a year later. According to Reuters, the aforementioned fine stems from the fact that companies violating EU antitrust laws can be fined up to 10% of their global revenue.
Source: https://thanhnien.vn/eu-ra-an-phat-gan-800-trieu-euro-voi-meta-185241114211352668.htm
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