EU Slaps Meta with 800 Million Euro Fine for Anti-Competitive Practices

The European Union fined Meta nearly €800 million on Thursday for "abusive practices" related to its marketplace classified ads business.

The European Commission, the bloc's top antitrust authority, imposed a €797.72 million (Rs 7123 crore) penalty after a lengthy investigation.

It concluded that Meta abused its dominant position and engaged in anti-competitive behaviour.

The Commission accused Meta of distorting competition by tying marketplace to Facebook, automatically exposing users to the service and sidelining competitors.

It also flagged Meta’s terms of service, which allowed the company to use ad-related data from competitors advertising on Facebook and Instagram to benefit the marketplace.

Meta called the decision unfounded, stating it failed to show "competitive harm" and ignored the vibrant European market for online classified ads. The company plans to appeal.