Meta Platforms faces a large EU fine for alleged market domination in classified ads, linked to Facebook's integration.

Meta Platforms Inc. is poised to receive a substantial fine from the European Union due to allegations of monopolizing the classified advertising market. The EU claims that Meta links its free Marketplace with Facebook to stifle competition. This decision, expected next month, may conclude investigations led by outgoing competition chief Margrethe Vestager. Both Meta and the EU have not commented on the situation.

September 18, 2024
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