(qlmbusinessnews.com Fri. 15th Nov, 2024) London, UK —
EU Slaps Meta with €798 Million Fine Over Facebook Marketplace Antitrust Breach
Meta has been fined €798 million (£664 million) by the European Commission for violating competition laws through its integration of Facebook Marketplace into the social network. The European Commission argued that by embedding the online classifieds service within Facebook, Meta created unfair conditions for rival platforms, effectively stifling competition.
The Commission’s ruling found that Meta's practices gave Facebook Marketplace a significant advantage over other classified ad services, making it more difficult for competitors to operate fairly in the market. As part of the ruling, the Commission has ordered Meta to cease these actions and refrain from repeating the infringement in the future.
In response, Meta expressed strong disagreement with the findings, saying it would appeal the decision. The company claimed that the Commission provided “no evidence” showing that its actions harmed either consumers or competitors, and argued that the ruling unfairly protected established players in the market.
EU antitrust chief Margrethe Vestager said that Facebook’s integration of Marketplace into its platform hindered competition and provided unfair advantages to its own service. “Meta must cease this conduct,” Vestager added, emphasising that the company was prohibited from repeating such actions.
This ruling follows a long-running investigation initiated by the European Commission in 2021 after rivals of Facebook Marketplace lodged complaints. Meta’s competitors alleged that Facebook’s dominant position in social media gave Marketplace an unearned edge.
Though this is the largest fine Meta has faced from the European Union, the company has previously been penalised for other violations, including a €110 million fine in 2017 for failing to provide accurate information when it acquired WhatsApp. It has also faced a €1 billion fine from the Irish Data Protection Commissioner over mishandling data transfers between Europe and the United States.
The decision comes amid a broader global crackdown on large tech companies, with the US government exploring potential antitrust measures against Google.
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