The European Commission has imposed a fine of €797.72 million on Meta for violating EU antitrust laws. The penalty stems from the integration of Facebook Marketplace with its social network, creating unfair advantages and limiting competition.

The EU fines Meta €798M for antitrust violations, citing unfair competition and tying Facebook Marketplace to the social network.

The EU’s European Commission issued the fine of 797.72 million euros ($846.13m) on Thursday. It accused Meta, which owns social media platform Facebook, of marketplace practices that give its own ad service an undue advantage over competitors.

Meta Platforms fined €797.72 million by EU for violating antitrust laws and abusing dominant market position with Facebook Marketplace.

Use precise geolocation data and actively scan device characteristics for identification. This is done to store and access information on a device and to provide personalised ads and content, ad and content measurement, audience insights and product development. List of Partners (vendors)

Meta Platforms, the parent company of Facebook, has been hit with a nearly $841 million fine by the European Union for what regulators have labeled as "abusive practices" connected to its Marketplace classified ads business.

Launched in 2016, Facebook Marketplace enables users of Meta’s flagship social network to buy and sell goods. The European Commission, the EU’s executive arm, launched a probe into the service in 2021 over concerns it may harm competition. Today’s fine is the culmination of that probe.

Meta has been fined €798m by the European Commission, the first anti-trust penalty levied by the EU against the owner of Facebook and Instagram.

Meta, the parent company of Facebook, has been slapped with a hefty €798 million fine. This penalty, as announced by the European Commission, stems from allegations that Meta engaged in practices deemed 'unfair' through its integration of the Facebook Marketplace into its social networking platform.

European enforcers accuse the tech giant of using its popular social network to unfairly advantage its classified ads business.

European Union regulators hit Facebook parent Meta with a fine of nearly 800 million euros on Thursday for what it calls “abusive practices” involving its Marketplace online classified ads business