Mark Zuckerberg's Meta Platforms will face a billion-dollar antitrust fine in the EU over the ties between its Marketplace classifieds service and Facebook. The company could pay $13.4 billion (10% of its global revenue in 2023). This was reported by Reuters.
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The European Commission's accusation is that the company gave its Facebook Marketplace service advantages by merging it with the social network.
The EU antitrust authority also stated that the American giant abuses its dominant position by unilaterally imposing unfair trading conditions on competing online classifieds services that place ads on Facebook or Instagram.
The commission is likely to make a decision in September or October 2024.