EU slaps Meta with a nearly 800 million euro fine for engaging in ‘abusive’ Marketplace practices
The Hindu
EU fines Meta nearly 800 million euros for anti-competitive practices in Marketplace, Meta vows to appeal.
European Union regulators hit Facebook parent Meta with a fine of nearly 800 million euros on Thursday (November 14, 2024) for what they call “abusive practices” involving its Marketplace online classified ads business.
The European Commission, the 27-nation bloc's executive branch and top antitrust enforcer, issued the 797.72 million euro ($841 million) penalty after its long-running investigation found that the company abused its dominant position and engaged in anti-competitive behavior.
The commission had accused Meta of distorting competition by tying its online classified ad business to its social network, automatically exposing Facebook users to Marketplace “whether they want it or not" and shutting out competitors.
It was also concerned that Meta was imposing unfair trading conditions with terms of service that authorized the company to use ad-related data — generated from competing classified ad platforms who advertise on Facebook or Instagram — to benefit Marketplace.
Meta's practices gave it “advantages that other online classified ads service providers could not match,” Margrethe Vestager, the commission's executive vice president in charge of competition policy, said in a press release “This is illegal under EU antitrust rules. Meta must now stop this behaviour.”
Meta said in a statement that the decision fails to prove any “competitive harm” to rivals or consumers and “ignores the realities of the thriving European market for online classified listing services.”
The company said the Commission’s case ignores the fact that Facebook users can choose to “engage with Marketplace, and many don’t.” It said online marketplaces, including global sites like eBay, Europe-wide platforms like Vinted, and national services, are continuing to grow.
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