Meta Fined Nearly €800 Million by EU for Abusive Marketplace Practices
The European Union has imposed a hefty fine of approximately €800 million on Meta, the parent company of Facebook, for engaging in abusive practices related to its Marketplace platform. This significant penalty, totaling around $840 million, is a result of findings that Meta tied Marketplace ads to Facebook, thereby harming competitors and breaching antitrust rules. Meta has announced plans to appeal the decision, arguing against the characterization of its practices as abusive. The case highlights ongoing scrutiny of large tech companies in Europe regarding their competitive practices.
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