Reuters: Meta* to face multi-billion dollar fine from EU
Meta* Corporation may soon face a huge fine.
The European Union has identified violations of antitrust laws by the company.
This information was made available to the Reuters agency.
Last year, the EU found a link between the ad placement service Marketplace and the social network Facebook**. Because of this, the corporation may have a greater advantage over its competitors.
It is also noted that Meta* may use the information it receives about competitors’ advertising for its own purposes.
In this regard, the company faces a multi-million dollar fine, which is preliminarily estimated at $13.4 billion. The decision on the payment may be made as early as this fall, the exact date is still unknown.
It is noted that this amount is equal to 10% of Meta*'s total revenue for the entire 2023.
*Corporation recognized as extremist in the Russian Federation
*A social network owned by the Meta corporation, which is banned in the Russian Federation
