According to persons familiar with the situation who asked not to be identified, EU antitrust investigators are considering charges against Facebook parent Meta for handling consumer data and integrating its classified ads service with its social network.
The European Commission, which can fine companies up to 10% of their global revenue for antitrust infractions, and Meta declined to comment.
In June last year, the Commission launched an investigation into the social networking business. On the same day, Britain’s competition authority launched an investigation.
In recent months, the Commission has requested that Meta competitors remove sensitive information from their regulatory submissions. Typically, this is the forerunner to the Commission submitting a statement of objections explaining what it considers anti-competitive actions to corporations under investigation.
Meta’s classified ads company, Facebook Marketplace, was founded in 2016 and is utilized to purchase and sell things in 70 countries.
Politico was the first to announce that a statement of objections was on the way.
Credit: Source link
