European Commission Fines Meta €797.72 Million for Antitrust Violations

The European Commission (“Commission”) has recently imposed a fine of €797.72 million on Meta for breaching EU antitrust regulations. Meta, the parent company of Facebook, was found to have abused its dominant position in the market by tying its online classified ads service, Facebook Marketplace, to its social network, Facebook, and imposing unfair trading conditions on other online classified ads providers.

The investigation into Meta began in June 2021, with formal proceedings opening in December 2022. The Commission's findings are in violation of Article 102 of the Treaty on the Functioning of the European Union (TFEU), which prohibits abuse of a dominant market position.

Penalty and action:

• Commission has fined Meta €797.72 million, based on the duration and severity of the infringement and Meta’s turnover. The fine is designed to ensure deterrence, particularly given Meta’s significant market resources.
• Meta is required to cease these practices and refrain from engaging in similar behavior.

You can access the full text of the decision here.

King regards,

Zumbul Attorneys-at-Law

info@zumbul.av.tr