Technology
Meta fined over €780 million
European body imposed this fine for violation of European rules done by Facebook Marketplace
California: The European Competition Commission has fined Meta €788 million.
The European body imposed this fine for violation of European rules done by Facebook Marketplace.
In a statement issued by the European Commission, it was stated that Meta linked its advertising service Facebook Marketplace to its social network Facebook and imposed unfair commercial conditions on other online advertising service providers.
The Commission’s competition policy chief Margrethe Vestager said that Meta was fined for trying to maintain a dominant position in online display advertising.
She said that Meta takes advantage of Facebook Marketplace and other advertising services are unable to compete with it.
Margrethe stated that this is illegal under EU competition rules and Meta must review its behavior.
On the other hand, Meta said in a statement that it will appeal the decision.
According to the statement, the Competition Commission's decision ignored the realities of the European online classifieds market.
The statement said that the reality is that people use marketplaces because they want to.