The European Commission is preparing an antitrust fine for Meta in the amount of up to $13.4 billion

Meta✴ will be fined by the European Commission (EC) in the coming weeks for violating antitrust laws. The fine will be the first for Meta✴ in the EU and will be related to the linking of the Marketplace private classifieds service to the social network Facebook✴, Reuters reports, citing sources.

Image source: pexels.com

The EC’s investigation, which began more than a year and a half ago, found that Meta✴ was giving its Marketplace platform an advantage by merging it with Facebook✴. According to the regulator, this limits competition in the online advertising market.

In addition, the EC accused Meta✴ of abusing its dominant market position by unilaterally imposing unfavorable and unfair conditions for advertising on Facebook✴ and Instagram✴ by competing online ad services.

The company faces a fine of up to US$13.4 billion, or 10% of its 2023 global revenue. However, as Reuters notes, the EU usually reduces the maximum established sanctions limits. The commission is expected to announce its decision in September or October, before antitrust chief Margrethe Vestager steps down in November. However, the timing may be adjusted.

Meta✴ declined to comment on the matter, but company spokesman Matt Pollard reiterated his earlier view that the European Commission’s allegations were unfounded. “We continue to work constructively with regulators to demonstrate that our products are in the best interests of consumers and promote competition,” Mr. Pollard said.

Note that this month, the EC also brought charges against Meta✴ for violating EU digital law, as the company effectively forced users to sign up for a paid subscription under the new “Pay or Accept” model launched recently. The agreement provided for the collection of a large amount of personal data.