Meta Platforms, the parent company of Facebook, is expected to receive its first European Union (EU) antitrust fine in the coming weeks.
As per Reuters, the European Commission will penalize Meta for linking its classified ads service, Facebook Marketplace, with its social network, according to sources familiar with the matter.
The investigation began over a year and a half ago, with the EU accusing Meta of unfairly promoting Facebook Marketplace by bundling it with its main platform.
The Commission also alleged that Meta exploited its dominant position by imposing unfair terms on competing classified ads services that advertise on Facebook and Instagram.
The fine could reach up to $13.4 billion, or 10% of Meta’s 2023 global revenue, although it is typically lower than the maximum allowed.
The decision is expected to be made in September or October, ahead of EU antitrust chief Margrethe Vestager’s departure in November.
However, Meta has disputed the EU’s claims, stating that their product innovations benefit consumers and foster competition.
Despite attempts to resolve the issue by limiting the use of competitors’ advertising data, the EU rejected Meta’s proposals, although similar concessions were accepted by UK regulators.
