**EU Slaps Meta with Nearly 800 Million Euro Antitrust Fine**

Meta, the parent company of Facebook, faced its inaugural antitrust fine from European Union regulators on Thursday, amounting to almost 800 million euros. The substantial penalty comes as a result of what officials have described as "abusive practices" tied to Meta’s Marketplace online classified ads business.

The European Commission, which serves as the executive arm of the 27-nation bloc and its chief antitrust authority, imposed a 797.72 million euro ($841 million) fine after a thorough investigation. The findings concluded that Meta had leveraged its dominant market position to engage in anti-competitive behavior, marking the first such instance of the EU penalizing the social media giant under its competition laws. This move follows previous actions where the EU penalized other tech behemoths like Google and Apple.

The EU Commission highlighted that Meta had distorted the competitive landscape by linking its Marketplace service directly with its social network. As a result, Facebook users were automatically exposed to Marketplace content, irrespective of their interest, effectively sidelining competitors. Additionally, the commission raised concerns about Meta’s practice of using ad-related data from rival classified ad platforms advertising on Facebook and Instagram to benefit Marketplace disproportionately.

Margrethe Vestager, the commission’s executive vice-president responsible for competition policy, stated that Meta’s approach granted it advantages that other online classified ad providers couldn't compete with, calling it illegal under EU antitrust regulations and demanding an end to such behavior.

In response, Meta contended that the decision lacked evidence of "competitive harm" either to rivals or consumers, arguing that it ignored the dynamic nature of the European market for online classified listings. The company emphasized that Facebook users have the autonomy to interact with Marketplace, with many choosing not to. Meta also pointed out the thriving presence of other online marketplaces, including major players like eBay, Europe-focused platforms like Vinted, and various national services.

While Meta assured compliance with the Commission's directive to cease the problematic practices, the company announced its intention to appeal the decision. This case dates back to 2021, overlapping with parallel investigations by British regulators, which concluded last year after Meta offered concessions.

The social media giant remains under intense scrutiny from the EU on multiple fronts, including inquiries into child safety and election integrity measures on Facebook and Instagram. Meta has already been subjected to various fines for violations of the EU's strict privacy laws, including a record-breaking 1.2 billion euro penalty in the previous year.