The European Union has hit technology giant Meta with a fine just shy of 800 million euros for what it called “abusive practices” involving its Facebook Marketplace online classified ads business. The EU’s European Commission issued the fine of 797.

Meta's dominance in the EU's social media and online advertising markets has raised significant competition concerns, with Brussels concluding that Meta leverages its user data fr

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.