The European Commission (EC) fined the company Meta (recognized as extremist and banned in Russia) of almost 800 million euros for violating competition rules on advertising on Facebook (the owner of the company Meta was recognized as extremist and banned in Russia). This has been reported website ADDITIONAL.
“The European Commission fined Meta 797.72 million euros for violating EU rules on antitrust enforcement,” the document states.
According to EC, the company has connected its Marketplace online service to its social network Facebook. Thus, Meta unilaterally imposed unfair trading conditions on other online advertising publishing service providers advertising on its platforms.
An EU antitrust investigation was launched into Meta in 2019 following rival allegations that Facebook abused its dominant position by offering free services and profiting from data collection. Meta representatives statedthat its products fully comply with the requirements of the EU Digital Markets Law.
Previously in Russia fine Apple for 3.6 million rubles.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.