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Meta warned against breaching EU antitrust laws

Posted On: Dec. 20, 2022 9:43 AM CST


The European Commission has warned Facebook’s parent company Meta Platforms Inc. of breaching European Union antitrust laws by distorting competition in markets for online classified advertising and abusing its dominant position, Reuters reports. There are concerns that Meta ties Facebook to its online classified ad services called Facebook Marketplace. The commission plans to further investigate and could impose a fine of up to 10% of Meta’s annual global turnover.