- USA
  location (geo:U.S., geo:the United States, geo:USA, geo:United States, org:the United States, geo:US, org:U.S., org:US)
- Brussels
  location
- tech
  category
- business
  category

EU slaps Meta with a nearly 800 million euro fine for engaging in 'abusive' Marketplace practices

CTV News

Summary

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On Thursday, the European Commission fined Meta almost 798 million euros (about $840 million).
Insider
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The European Commission, the European Union's executive arm and chief antitrust regulator, imposed the fine of $840 million (797.72 million euro) on the company after a lengthy investigation concluded it abused its market dominance and engaged in anti-competitive practices.
Newsweek
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It accused Meta, which owns social media platform Facebook, of marketplace practices that give its own ad service an undue advantage over competitors.
Aljazeera
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The European Union opened formal proceedings into possible anticompetitive conduct of Facebook in June, 2021, and in December, 2022, raised concerns that Meta ties its dominant social network Facebook to its online classified ad services.
Voice Of America

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