Meta Of Breaching Antitrust Laws
December 19, 2022 Story: Divya Sinha
European Commission has warned Meta of breaching EU antitrust laws by distorting competition in the online classifieds market and abusing its dominant position.
The commission said it would investigate further and could impose fines of up to 10% of the company's annual global turnover if there was sufficient evidence of non-compliance with EU rules.
Meta spokesperson Tim Lamb says that the claims made by the European Commission are without foundation.
He further added that they will continue to work with regulatory authorities to demonstrate that their product innovation is pro-consumer and pro-competitive.
A source familiar with the matter told Reuters last month that EU antitrust authorities have charged Meta with using customer data.
The commission said on Monday it was concerned that Meta imposed "unfair terms and conditions" on competitors trying to advertise on Facebook and Instagram.
Last year in June, the EU investigated Facebook on whether social networks are misusing advertisers' data to compete with advertisers in the online classified ads sector.