Meta Hit With $844M Fine Over 'Abusive' Facebook Marketplace Practices
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Meta, the parent company of Facebook, has been fined $844 million by the European Commission for 'abusive' practices related to its Facebook Marketplace. The Commission claims Meta is undermining rivals by embedding its classified ads platform within the social network.
November 14, 2024 | 5:45 pm
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Meta has been fined $844 million by the European Commission for embedding its Facebook Marketplace within the social network, allegedly undermining rivals.
The fine is significant and highlights regulatory challenges Meta faces in Europe. Such fines can lead to increased scrutiny and potential operational changes, likely impacting investor sentiment negatively in the short term.
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