The European Union has fined Meta Platforms $840 million regarding what it called abusive practices benefitting Facebook Marketplace.
The European Commission said Meta breached its antitrust rules by tying its online classified ads service Facebook Marketplace to its personal social network Facebook and by imposing unfair trading conditions on other online classified ads service providers.
Meta said it will appeal the decision, but in the meantime, it will comply and work quickly and constructively to launch a solution that addresses the points raised.
The move by the Commission comes two years after it accused the US tech giant of giving its classified ads service Facebook Marketplace an unfair advantage by bundling the two services together.
The EU opened formal proceedings into possible anticompetitive conduct of Facebook in June 2021, and in December 2022 raised concerns about Meta's actions.
Facebook launched Marketplace in 2016 and expanded into several European countries a year later.
Companies risk fines of as much as 10% of their global turnover for EU antitrust violations.
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