The European Union has imposed a €798 million fine on Meta, the parent company of Facebook, for violating antitrust laws through its Facebook Marketplace. EU regulators concluded that Meta abused its dominant position in the social media sector by integrating its marketplace service into Facebook, giving it an unfair competitive edge.
The investigation revealed that Meta allegedly imposed restrictive practices on rivals, limiting their ability to compete fairly. By leveraging user data from its social media platform, Meta is accused of favoring its own marketplace, thereby undermining competitors and reducing consumer choice.
Meta has announced plans to challenge the fine, arguing that its integration practices are common and do not breach competition laws. However, EU authorities maintain that such actions distort the market and harm innovation.
This landmark decision reflects the EU’s continued crackdown on antitrust violations in the digital economy, aiming to create a level playing field for all businesses.