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Meta is once again at by the European Commission. The bloc's regulatory arm is preparing its findings that Meta linked its Marketplace service to Facebook to undermine competitors, the , citing sources familiar with the case.
If found guilty, Meta could be on the hook for 10 percent of its global annual revenue — a number that reached almost $135 billion last year. However, the fine could be much smaller, and Meta will almost certainly appeal it.
The Commission launched its initial probe in 2019, announcing its three years later that "Meta ties its dominant social network Facebook to its online classified ad services called Facebook Marketplace," Margrethe Vestager, executive vice-president in charge of competition policy, . "Furthermore, we are concerned that Meta imposed unfair trading conditions, allowing it to use of data on competing online classified ad services. If confirmed, Meta's practices would be illegal under our competition rules." Meta faces other investigations from the Commission into its , and its .
The news comes at a transitionary time for the European Commission, with President Ursula von der Leyen just yesterday. The shakeup for her second term will see Margrethe Vestager, head of competition for the last decade, replaced by Teresa Ribera. Reports that this year first surfaced in August.
This article originally appeared on Engadget at
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If found guilty, Meta could be on the hook for 10 percent of its global annual revenue — a number that reached almost $135 billion last year. However, the fine could be much smaller, and Meta will almost certainly appeal it.
The Commission launched its initial probe in 2019, announcing its three years later that "Meta ties its dominant social network Facebook to its online classified ad services called Facebook Marketplace," Margrethe Vestager, executive vice-president in charge of competition policy, . "Furthermore, we are concerned that Meta imposed unfair trading conditions, allowing it to use of data on competing online classified ad services. If confirmed, Meta's practices would be illegal under our competition rules." Meta faces other investigations from the Commission into its , and its .
The news comes at a transitionary time for the European Commission, with President Ursula von der Leyen just yesterday. The shakeup for her second term will see Margrethe Vestager, head of competition for the last decade, replaced by Teresa Ribera. Reports that this year first surfaced in August.
This article originally appeared on Engadget at
Console Bang News!