Official announcements from the European Commission or Meta Platforms

EU Fines Meta €797 Million, First Ever Penalty, for Antitrust Violations over Facebook Marketplace Practices

Nov 14, 2024, 01:37 PM

The European Union has imposed a fine of €797 million ($841 million) on Meta Platforms for violating antitrust regulations. This penalty marks the first time Meta has faced such a fine in the EU. The European Commission found that Meta's practices of tying its Facebook Marketplace service to its broader social media platform constituted an abuse of dominance and imposed unfair trading conditions on rival websites. In response to the ruling, Meta announced plans to appeal the decision, arguing that the EU did not provide sufficient evidence of harm to competitors or consumers. The fine reflects ongoing scrutiny of major tech companies by European regulators, particularly regarding their market practices.