The European Union has hit technology giant Meta with a fine just shy of 800 million euros for what it called “abusive practices” involving its Facebook Marketplace online classified ads business. The EU’s European Commission issued the fine of 797.

Meta's dominance in the EU's social media and online advertising markets has raised significant competition concerns, with Brussels concluding that Meta leverages its user data fr

European Union regulators hit Facebook parent Meta with a fine of nearly 800 million euros on Thursday for what it calls “abusive practices” involving its Marketplace online classified ads business.

The EU fines Meta €798M for antitrust violations, citing unfair competition and tying Facebook Marketplace to the social network.

Meta, the parent of Facebook, Instagram and WhatsApp, has been hit with yet another huge fine in Europe, this time over abusive practices in Facebook

Meta Platforms Inc. was hit with a €798 million ($841 million) fine by European Union regulators by tying its Facebook Marketplace service to its sprawling social network, the US tech giant’s first ever penalty for EU antitrust violations.

The European Commission on Thursday fined Meta Platforms €797.72 million ($840.24 million) over abusive practices benefiting Facebook Marketplace, it said in a statement, confirming an earlier report by Reuters.

Facebook is undermining rivals by ‘tying’ its free Marketplace services with the social network, Brussels says