EU hits Facebook owner Meta with €793m Marketplace fine
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Meta Platforms Inc has been fined €793 million by the EU for unfair trading practices related to its Marketplace platform.
November 15, 2024 | 9:00 am
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Meta Platforms Inc has been fined €793 million by the EU for embedding its Marketplace into its social network, which imposed unfair trading conditions on other classified ad service providers.
The significant fine of €793 million by the EU is likely to negatively impact Meta's stock price in the short term due to the financial penalty and potential reputational damage. The fine highlights regulatory challenges and could lead to increased scrutiny on Meta's business practices.
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