The tech giant could face a fine of up to 10% of its annual global revenue, the European Commission said. Based on its 2021 figures, that means the Facebook-parent company could pay up to $11.8 billion.
The European Commission first launched a probe into Meta in June 2021 to investigate “possible anticompetitive conduct.”
“This means Facebook users have no choice but to have access to Facebook Marketplace. Furthermore, we are concerned that Meta imposed unfair trading conditions, allowing it to use of data on competing online classified ad services,” Vestager said. “If confirmed, Meta’s practices would be illegal under our competition rules.”
