European Union fines Meta €800m for engaging in abusive Facebook ad practices

The European Commission has imposed a fine of €800 million on Meta, the parent company of Facebook, for breaching antitrust rules and abusing its dominant position in the online classified listing services market. The commission found that Meta automatically ties its ad service, Facebook Marketplace, to the Facebook social network, creating an unfair advantage for its own ads over competitors. Meta has announced its intention to appeal the decision, stating that it ignores the realities of the thriving European market.