EU fines Meta $840m over unfair trading conditions, others

The European Union (EU) has fined Meta the sum of $840 million over alleged unfair trading conditions and ‘abusive’ Facebook ad practices.

Giving details on the fine, the EU noted that Meta is guilty of breaching antitrust rules by giving users of its Facebook social network automatic access to Facebook Marketplace.

The EU further noted that Meta is abusing its users by imposing unfair trading conditions on other online classified ads service providers that advertise on its platforms.

This was contained in a statement by the EU competition chief, Margrethe Vestager, on Thursday.

The statement partly reads, “This is illegal under EU antitrust rules. Meta must now stop this behaviour. All Facebook users automatically have access and get regularly exposed to Facebook Marketplace whether they want it or not.

“Additionally Meta imposed unfair conditions on competitors in the classified ads service who advertised on Facebook and Instagram. This allowed it to use ads-related data generated by other advertisers for the sole benefit of Facebook Marketplace.”

Reacting to the fine, the tech giant dismissed the allegations by the EU, explaining that Facebook users have the option to engage with the market place or not.

The company further noted that it will appeal the EU fine.

“Facebook users can choose whether or not to engage with Marketplace, and many don’t. The reality is that people use Facebook Marketplace because they want to, not because they have to. It is disappointing that the Commission has chosen to take regulatory action against a free and innovative service built to meet consumer demand,” the company said in a statement.

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