The Fort Worth Press - EU fines Meta $840 million for 'abusive' Facebook ad practices

USD -
AED 3.673051
AFN 67.000198
ALL 92.450129
AMD 386.974854
ANG 1.802123
AOA 912.000177
ARS 1000.362898
AUD 1.543841
AWG 1.8025
AZN 1.691881
BAM 1.857325
BBD 2.01886
BDT 119.48491
BGN 1.852673
BHD 0.37685
BIF 2897.5
BMD 1
BND 1.345641
BOB 6.908832
BRL 5.782302
BSD 0.999886
BTN 84.392794
BWP 13.725155
BYN 3.272208
BYR 19600
BZD 2.01548
CAD 1.402975
CDF 2866.000089
CHF 0.88797
CLF 0.035343
CLP 975.229905
CNY 7.230299
CNH 7.244025
COP 4483.25
CRC 510.721544
CUC 1
CUP 26.5
CVE 104.903343
CZK 23.953046
DJF 177.720183
DKK 7.06422
DOP 60.450092
DZD 133.619613
EGP 49.468904
ERN 15
ETB 122.050129
EUR 0.94716
FJD 2.275017
FKP 0.789317
GBP 0.78725
GEL 2.724958
GGP 0.789317
GHS 16.049785
GIP 0.789317
GMD 71.000218
GNF 8630.99963
GTQ 7.721894
GYD 209.184836
HKD 7.781925
HNL 25.060355
HRK 7.133259
HTG 131.382772
HUF 384.7675
IDR 15929.25
ILS 3.74008
IMP 0.789317
INR 84.46215
IQD 1310.5
IRR 42105.000021
ISK 137.989828
JEP 0.789317
JMD 158.287592
JOD 0.709103
JPY 155.788976
KES 129.506089
KGS 86.376501
KHR 4051.000265
KMF 466.495264
KPW 899.999621
KRW 1403.499466
KWD 0.30742
KYD 0.833207
KZT 495.71708
LAK 21944.999806
LBP 89600.000301
LKR 292.121707
LRD 184.097004
LSL 18.249887
LTL 2.95274
LVL 0.60489
LYD 4.870249
MAD 9.958049
MDL 18.112322
MGA 4655.000126
MKD 58.237769
MMK 3247.960992
MNT 3397.999946
MOP 8.01546
MRU 39.874993
MUR 47.190157
MVR 15.449695
MWK 1735.99992
MXN 20.46769
MYR 4.480502
MZN 63.901556
NAD 18.250431
NGN 1679.859944
NIO 36.779633
NOK 11.10269
NPR 135.033904
NZD 1.702273
OMR 0.385021
PAB 0.999905
PEN 3.804497
PGK 3.93475
PHP 58.856502
PKR 278.04999
PLN 4.095903
PYG 7808.968491
QAR 3.64055
RON 4.712597
RSD 110.634002
RUB 99.304003
RWF 1365
SAR 3.755981
SBD 8.383555
SCR 13.598198
SDG 601.498491
SEK 10.956202
SGD 1.343095
SHP 0.789317
SLE 22.680291
SLL 20969.504736
SOS 571.504424
SRD 35.3565
STD 20697.981008
SVC 8.749122
SYP 2512.529858
SZL 18.249753
THB 34.870301
TJS 10.658475
TMT 3.51
TND 3.151967
TOP 2.342098
TRY 34.327599
TTD 6.789045
TWD 32.579498
TZS 2660.000424
UAH 41.219825
UGX 3669.445974
UYU 42.477826
UZS 12824.999812
VES 44.994212
VND 25400
VUV 118.722009
WST 2.791591
XAF 622.917458
XAG 0.032786
XAU 0.000389
XCD 2.70255
XDR 0.753255
XOF 616.501263
XPF 113.349704
YER 249.849944
ZAR 18.199145
ZMK 9001.199107
ZMW 27.421652
ZWL 321.999592
  • BCC

    -2.2000

    140.35

    -1.57%

  • JRI

    -0.0300

    13.21

    -0.23%

  • SCS

    -0.1000

    13.27

    -0.75%

  • CMSC

    -0.0600

    24.55

    -0.24%

  • BCE

    -0.3700

    26.84

    -1.38%

  • NGG

    0.2500

    62.37

    +0.4%

  • CMSD

    -0.0050

    24.725

    -0.02%

  • RBGPF

    -0.9400

    59.25

    -1.59%

  • GSK

    -0.7200

    34.39

    -2.09%

  • RIO

    -0.1900

    60.43

    -0.31%

  • BTI

    0.0700

    35.49

    +0.2%

  • RYCEF

    -0.3200

    6.79

    -4.71%

  • AZN

    -0.2500

    65.04

    -0.38%

  • RELX

    -0.1700

    45.95

    -0.37%

  • BP

    0.4800

    29.05

    +1.65%

  • VOD

    -0.0700

    8.68

    -0.81%

EU fines Meta $840 million for 'abusive' Facebook ad practices
EU fines Meta $840 million for 'abusive' Facebook ad practices / Photo: © AFP/File

EU fines Meta $840 million for 'abusive' Facebook ad practices

The EU fined online giant Meta almost 800 million euros on Thursday for breaching antitrust rules by giving users of its Facebook social network automatic access to classified ads service Facebook Marketplace.

Text size:

The European Commission said the US tech titan also abused its dominant position by imposing unfair trading conditions on other online classified ads service providers that advertise on its platforms.

"This is illegal under EU antitrust rules. Meta must now stop this behaviour," the bloc's competition chief, Margrethe Vestager, said in a statement.

Meta said it would appeal, alleging the decision ignored "the realities of the thriving European market for online classified listing services.

"Facebook users can choose whether or not to engage with Marketplace, and many don't. The reality is that people use Facebook Marketplace because they want to, not because they have to," the firm said in a statement.

Among the 10 largest antitrust fines ever imposed by the 27-nation European Union, it is the latest in a string of hefty penalties slapped on Big Tech companies in recent years by the commission, the regulator for the bloc.

- 'Abusive practices' -

Detailing what it termed "abusive practices" by Meta, the commission said that because Facebook Marketplace was tied to Facebook, the former enjoyed a "substantial distribution advantage which competitors cannot match."

"All Facebook users automatically have access and get regularly exposed to Facebook Marketplace whether they want it or not," it said.

Additionally Meta imposed unfair conditions on competitors in the classified ads service who advertised on Facebook and Instagram, the commission said.

This allowed it to "use ads-related data generated by other advertisers for the sole benefit of Facebook Marketplace", it said.

Meta, which also owns WhatsApp and Instagram, contended it did not "use advertisers' data for this purpose" and has "built systems and controls to ensure that".

"It is disappointing that the Commission has chosen to take regulatory action against a free and innovative service built to meet consumer demand," the company said.

Meta's dominant position in the market for personal social networks comes with a special responsibility not to abuse it by restricting competition, according to the EU.

- 'Duration and gravity' -

The commission opened formal proceedings into possible anticompetitive conduct by Facebook in June 2021, communicating its concerns to Meta in December 2022 -- and receiving the firm's response in June 2023.

The EU fined the company 797.72 million euros ($840 million), a sum the commission said took into account the "duration and gravity of the infringement", as well as the turnover of Meta and Facebook Marketplace.

Meta's total revenue last year stood at around $135 billion.

The European commissions has had several run-ins with Meta as part of a broader clampdown on abusive Big Tech practices.

Its policy arsenal has been beefed up over the past two years with major twin laws, the Digital Services Act and the Digital Markets Act, that carry massive financial penalties in the event of infringements.

In July the EU accused Meta of breaching the digital rules with its new "pay or consent" system. It meant users had to pay to avoid data collection, or agree to share their data with Facebook and Instagram to keep using the platforms for free.

Bowing to pressure from EU regulators, Meta announced this week it was offering non-paying users in the bloc the option of receiving less targeted ads, as well as cutting subscription rates for entirely ad-free services.

B.Martinez--TFWP