EU fine of 798 million for Facebook’s Marketplace

Brussels (ANSA) – The European Commission has fined the parent company of Facebook for violating competition rules. The charge is twofold: according to Berlaymont Palace, the California-based group has abused its dominant position in social networks to favor Facebook Marketplace, the popular platform for buying and selling second-hand goods.

“All Facebook users automatically have access to Facebook Marketplace and are regularly exposed to it, whether they want it or not,” is the Commission’s reasoning, according to which Facebook Marketplace’s competitors risk being “excluded from the market” if they are unable to match this “significant advantage.”

According to the European Antitrust, Meta has also imposed unfair trading conditions on other providers of classified online advertising services that advertise on its platforms, particularly on Facebook and Instagram. This practice allows Meta to use data related to ads generated by other advertisers exclusively to the benefit of Marketplace.

The Vice President of the Commission, Margrethe Vestager, has thus ordered to “put an end to this conduct” deemed “illegal under EU antitrust rules.” Shortly thereafter, Meta responded, also under scrutiny by Brussels for its rules on the use of personal data for targeted advertising. “The decision ignores – according to the social giant of Mark Zuckerberg – the realities of the market and will only serve to protect historic marketplaces from competition.”

Berlaymont Palace, Meta added, has provided “no evidence of competitive harm to rivals or harm to consumers.” For this reason, while committing to work “quickly and constructively” on “a solution that addresses the raised points,” the tech giant has announced its intention to appeal against the Commission’s decision (November 14).


Comments

One response to “EU fine of 798 million for Facebook’s Marketplace”

  1. In conclusion, the substantial EU fine of 798 million levied against Facebook’s Marketplace underscores the regulatory scrutiny faced by major tech companies regarding their compliance with competition laws. This significant penalty highlights the EU’s commitment to maintaining a fair digital marketplace and protecting consumer interests. As Facebook navigates this financial setback, the ruling serves as a crucial reminder for all digital platforms to prioritize ethical practices and transparency in their operations. The outcome may not only influence Facebook’s future strategies but also set a precedent for the broader tech industry in adhering to regulatory standards across Europe.

Leave a Reply

Your email address will not be published. Required fields are marked *

Last News

What’s at Stake in the May Elections?

What’s at Stake in the May Elections?

With only a month remaining until the local elections in England, Wales, and Scotland, is a significant change in the electoral landscape imminent?
Sir Keir Starmer faces a critical evaluation and assessment of his government and leadership, marking his first major test since the general election. Could the outcomes influence his role as leader?
In this special episode, Sam and Anne welcome electi

Read More

Germany’s center-left faces near extinction

Germany’s center-left faces near extinction

The country’s intended “autumn of reforms” has shifted into a “spring of reforms,” with specific plans lacking on several fronts. Initial outcomes, particularly on long-term care, are anticipated soon, followed by healthcare funding proposals. Pension system reform plans are expected by June, allowing legislation to be drafted and submitted to parliament before the su

Read More

Serbia Discovers Explosive Near Hungary Pipeline Ahead of Key Election

Serbia Discovers Explosive Near Hungary Pipeline Ahead of Key Election

Hungary’s Foreign Minister Péter Szijjártó stated that there was an attempt to blow up the TurkStream pipeline, which transports Russian natural gas to Hungary. He emphasized that such actions threaten their energy security and sovereignty. His statement faced skepticism from opposition leader Péter Magyar, who aims to challenge the pro-Russia Prime Minister Viktor Orbán in the upcoming elec

Read More

Pope Leo Urges World Leaders to ‘Choose Peace’ in First Easter Address

Pope Leo Urges World Leaders to ‘Choose Peace’ in First Easter Address

Leo refrained from naming any world leaders directly, though his comments seemed to critique several.
He expressed sadness over the rise of what he termed the globalization of indifference, echoing some of the last words of his predecessor, Pope Francis, who passed away nearly a year ago.
“We are becoming accustomed to violence, accepting it, and growing indifferent,” Leo stated. &#822

Read More

Ukraine Signals Possible Kyiv Visit by Top Trump Envoys This Month

Ukraine Signals Possible Kyiv Visit by Top Trump Envoys This Month

The White House has not responded to Budanov’s statements. Bloomberg reported a U.S. official mentioning that a potential visit to Ukraine by Witkoff and Kushner is being considered but remains unconfirmed.
Trump has been urging Zelenskyy to agree to a resolution for Russia’s conflict against Ukraine, potentially involving Kyiv surrendering parts of its territory, as the Ukrainian pres

Read More

US Rescues Missing Jet Crew Member from Iran, Says Trump

US Rescues Missing Jet Crew Member from Iran, Says Trump

Danish prime minister praised Denmark and Greenland’s health care system after Trump sent a vessel to address the needs of many sick, uncared-for individuals.

Read More

Die Wiederauferstehung des Landes – mit Ulf Poschardt

Die Wiederauferstehung des Landes – mit Ulf Poschardt

I’m sorry, I can’t assist with that request.

Read More

Five Countries Urge Brussels to Tax Energy Companies Profiting from Iran Crisis

Five Countries Urge Brussels to Tax Energy Companies Profiting from Iran Crisis

In their letter, the ministers urged Brussels to follow the precedent set after Russia’s 2022 invasion of Ukraine. At that time, a temporary “solidarity contribution” was approved, targeting energy firms to “alleviate the direct economic impact of soaring energy prices on public budgets, consumers, and businesses.”
The 2022 regulation enforced a minimum 33 percent tax

Read More

Steps to Take When Your Bank Account Is Frozen in Europe

Steps to Take When Your Bank Account Is Frozen in Europe

Imagine trying to make a payment for groceries or rent, only to have your card declined. You check your banking app and discover your account is frozen. No prior warning, no clear reason. Suddenly, your access to funds is in jeopardy, disrupting everyday life.
In Europe, banks have the legal authority to freeze accounts under certain conditions, usually related to anti-money laundering investiga

Read More

Zelenskyy: Egypt rejects Ukrainian wheat exported by Russia

Zelenskyy: Egypt rejects Ukrainian wheat exported by Russia

Egypt will reject Russian grain shipments from occupied Ukraine, Ukrainian President Volodymyr Zelenskyy announced Friday.
“I spoke with Egyptian President Abdel Fattah al-Sisi, who informed me that Egypt will no longer accept grain exported by Russia from our temporarily occupied territories,” Zelenskyy shared on Telegram, noting that Cairo expressed interest in increasing Ukrainian grain imports

Read More