(Reuters) – Meta Platforms Inc (NASDAQ:) is reportedly facing a substantial fine in the EU for alleged anti-competitive practices in the classified advertising market, as per sources cited by the Financial Times on Wednesday.
According to the report, EU regulators are set to accuse Meta of leveraging its free Marketplace services in conjunction with the social network to stifle competition from its rivals.
The EU’s decision on this matter is anticipated to be announced as early as next month and would signify one of the final investigations spearheaded by the outgoing EU competition chief, Margrethe Vestager.
Both Meta and the EU have yet to provide any comments in response to requests from Reuters.