The European Commission has imposed a fine of €788 million on world famous company Meta. According to media reports, this fine was imposed by the European body due to violations of European regulations by Facebook Marketplace.
In a latest statement, the(EU) European Commission explained that Meta linked its advertising service, Facebook Marketplace, with its social network, Facebook, and imposed unfair trading conditions on other providers of online advertising services.
The head of the Commission’s competition policy, Margrethe Vestager, stated that the fine was imposed due to Meta’s efforts to maintain its dominant position in online display advertising.
She added that Meta benefits from Facebook Marketplace, and other advertising services are unable to compete with it.
Margrethe Vestager further stated that this behavior is illegal under European Union competition laws, and Meta will need to review its conduct.
On the other hand, Meta has stated that it will appeal the decision.According to Meta’s statement, the Competition Commission’s decision overlooked the realities of the European online classifieds market. In reality, people use Marketplace because they want to.
