Tuesday Apr 30, 2024
Tuesday Apr 30, 2024

EU accuses Meta of antitrust breaches


Nepalnews
AP
2022 Dec 19, 17:23, LONDON

The European Union on Monday accused Facebook parent Meta of breaching the bloc’s antitrust rules by distorting competition in the online classified ads business.

The bloc’s executive commission said Monday that it “takes issue” with the tech company tying its online classified ad business, Facebook Marketplace, to Facebook.

That means Facebook users automatically have access to Marketplace “whether they want it or not,” the European Commission said.

The commission, the 27-nation bloc’s top antitrust enforcer, said Meta also imposes unfair trading conditions on competing online classified ad companies that advertise their services on Facebook or Instagram.

Meta didn’t respond immediately to a request for comment.

The EU’s competition watchdog and its British counterpart last year opened twin investigations into the company’s classified business.

If confirmed, the practices would be in breach of EU rules that prevent “abuse of a dominant market position.”

The commission said it’s preliminary finding is that Meta dominates the EU’s social network market as well as the online display advertising on social media in the bloc’s national markets.

Companies that breach EU antitrust rules can be hit with fines worth up to 10% of their annual global revenue.

READ ALSO:

Facebook European Union tech company Marketplace business Facebook Marketplace Meta
Nepal's First Online News Portal
Published by Nepalnews Pvt Ltd
Editor: Raju Silwal
Information Department Registration No. 1505 / 076-77

Contact

KMC-02, UttarDhoka,
Lazimpat, Nepal

Newsroom
+977–01–4445751 / 4445754

E-mail
[email protected] [email protected]

Terms of Use Disclaimer
© NepalNews. 2021 All rights reserved. | Nepal's First News Portal