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European Commission Fines Meta €800 Million Over Facebook Marketplace Antitrust Violations

Brussels [Belgium], November 15 – The European Commission has fined Meta approximately €800 million for violating EU antitrust rules through its Facebook Marketplace platform. In a statement, the Commission announced a €797.72 million fine against Meta for tying its Facebook Marketplace classified ads service to its social media platform and imposing unfair trading conditions on other online classified ad providers.

The Commission explained that Facebook users automatically gain access to Facebook Marketplace, giving it a distribution advantage that other platforms cannot compete with. "This tie between Facebook Marketplace and the Facebook social network forecloses competitors, as the Marketplace benefits from broad exposure that competitors cannot replicate," the European Commission stated.

Executive Vice-President Margrethe Vestager, in charge of competition policy, commented on the ruling, saying, "Meta’s conduct, tying Facebook Marketplace to its social network and imposing unfair conditions on other providers, unfairly benefits Facebook Marketplace by leveraging its dominant position in social networking and online advertising. This is illegal under EU antitrust rules, and Meta must end these practices."

In response, Meta argued that the European Commission's decision disregards market realities, claiming that the Marketplace was built to meet consumer demand. Meta's statement contended, "This decision ignores competitive dynamics and instead protects incumbent marketplaces from competition. The European Commission’s decision lacks evidence of harm to competition or consumers."

Meta also confirmed it would appeal the decision to support better outcomes for European consumers.

This post was last modified on November 15, 2024 8:09 am

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