EU Commission has antitrust law issues to Meta
2022.12.19 06:19
EU Commission has antitrust law issues to Meta
Budrigannews.com – On Monday, the European Commission stated that it had informed Facebook (NASDAQ:) parent company Meta that it is likely in violation of EU antitrust laws by misusing its dominant position and stifling competition in the online classifieds market.
“Meta’s tying of its online classified ads service, Facebook Marketplace, to its personal social network, Facebook,” the Commission says. In a statement regarding its preliminary opinion, the Commission stated, “The Commission is also concerned that Meta is imposing unfair trading conditions on Facebook Marketplace’s competitors for its own benefit.”
The commission stated that the sending of a statement of objections does not predetermine the outcome of an investigation, and it added that, in the event that it determines that there was an infraction, it could levy a fine of up to 10% of the company’s global annual turnover.
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