The European Commission has fined Facebook parent company Meta €797.72 million ($841 million) for breaches of EU competition law benefiting Facebook Marketplace. The antitrust breaches relate to Meta's abuse of its dominant market position on social media networks and in online advertising,

European Union regulators hit Facebook parent Meta with a fine of nearly 800 million euros on Thursday for what it calls “abusive practices” involving its Marketplace online classified ads business.

EU fines Facebook parent Meta nearly 800 million euros over 'abusive' Marketplace practices. 24/7 coverage of breaking news and live events

Meta Platforms Inc. was hit with a €798 million ($841 million) fine by European Union regulators by tying its Facebook Marketplace service to its sprawling social network, the US tech giant’s first ever penalty for EU antitrust violations.

The European Commission on Thursday fined Meta Platforms €797.72 million ($840.24 million) over abusive practices benefiting Facebook Marketplace, it said in a statement, confirming an earlier report by Reuters.

Facebook is undermining rivals by ‘tying’ its free Marketplace services with the social network, Brussels says

The EU Commission fined tech giant Meta for practices favoring Facebook Marketplace that it said violated EU competition law.