Meta Platforms Inc faces a significant fine in the EU due to alleged attempts to dominate the classified advertising market, according to a report by the Financial Times on Wednesday. The report cites sources familiar with the situation.
The European regulators are expected to accuse Facebook’s parent company of linking its free Marketplace services with its social network to undermine its competitors. This action is seen as part of Meta’s strategy to weaken rivals in the classified ads sector.
The EU’s decision on the matter could be announced as soon as next month. This would be one of the final cases handled by the EU’s outgoing competition chief, Margrethe Vestager.
Source: Reuters
