EU slaps Meta with nearly 800 million euro fine for engaging in ‘abusive’ marketplace practices

European Union regulators hit Facebook parent Meta with a fine of nearly 800 million euros on Thursday for what they call “abusive practices” involving its Marketplace online classified ads business.

The European Commission, the 27-nation bloc’s executive branch and top antitrust enforcer, issued the 797.72 million euro ($841 million) penalty after its long-running investigation found that the company abused its dominant position and engaged in anti-competitive behaviour.