The European Commission has imposed a fine of €797.72 million, equivalent to approximately $840.24 million, on Meta Platforms. The fine was levied due to abusive practices that benefited Facebook Marketplace, according to a statement from the Commission.
This significant penalty addresses concerns that Meta tied its classified-ads platform to its flagship social network, Facebook, thereby undermining competition. The ruling confirms earlier reports regarding the antitrust violation.
The substantial fine directly impacts Meta's financial results and underscores the ongoing regulatory scrutiny the company faces in Europe. Meta will need to adjust its practices to ensure compliance with EU antitrust regulations.
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