Meta fined $1.3 billion for abusing its dominant position in the social networking market and violating EU antitrust laws
Meta has been fined 797.72 million euros (about 130 billion yen) by the European Commission, the EU's administrative body. Meta will appeal the fine.
Commission fines Meta €797.72 million over abusive practices benefiting Facebook Marketplace
Meta found €798m by EU in antitrust case over ads | Irish Independent
EU fines nearly €800m over anti-trust rules
https://www.rte.ie/news/2024/1114/1480941-meta-eu-fine/
Meta hit with $840 million EU fine for 'abusive' Facebook Marketplace ad practices | Fortune Europe
https://fortune.com/europe/2024/11/14/eu-fines-meta-840-million/
In 2016, Meta launched Facebook Marketplace, an online classified ads service that allowed people to buy and sell goods.
However, the European Commission pointed out that the 'tying' of Facebook Marketplace with Facebook may violate Article 102 of the Treaty on the Functioning of the European Union, which is equivalent to the EU's antitrust law. In July 2024, it was reported that a fine of up to 2.7 trillion yen would be imposed on this matter.
Meta to be fined by EU for antitrust violations within weeks, up to 10% of global sales in 2023, equivalent to about 2.7 trillion yen - GIGAZINE
There was no progress after that, but on November 14, 2024 local time, the European Commission ruled that the 'tying' of Facebook Marketplace with Facebook gives Facebook Marketplace a significant advantage and creates a situation where other classified ad services cannot continue to operate, thereby violating Article 102 of the Treaty on the Functioning of the European Union.
The court ordered Meta to effectively end the tying practice and to refrain from repeating the violations or employing similar methods in the future, and imposed a fine of €797.72 million.
Meta stated that it would comply with the complaint, but that it plans to appeal the decision itself, stating that 'no evidence of harm to competitors has been presented.'
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