EU Regulators Rebuff Meta's Offer to Curb Use of Competitors' Ad Data for Facebook Marketplace

Meta's offer also included limiting the use of advertising data to develop products that compete with advertisers.

EU Regulators Rebuff Meta's Offer to Curb Use of Competitors' Ad Data for Facebook Marketplace

Photo Credit: Reuters

Meta's proposal is similar to one made to the UK competition agency in May

Highlights
  • Meta sought to settle the EU investigation opened in June last year
  • EU antitrust watchdog last December charged Meta with abusing its power
  • Meta contested the EU charges at a closed hearing earlier this month
Advertisement

Meta Platforms offered to curb the use of competitors' advertising data for its Facebook Marketplace online classified service in an attempt to settle an EU antitrust investigation but regulators gave it the cold shoulder, people familiar with the matter said.

Its offer also included limiting the use of advertising data to develop products that compete with advertisers, the people said.

Meta's proposal, similar to one made to the UK competition agency in May, suggests that the company will have to do more to counter the EU watchdog's charges if it wants to stave off a possible fine.

However, the sources said Meta was not expected to improve its offer. The UK enforcer in a preliminary view has said Meta's offer addresses its concerns.

Companies risk fines of as much as 10 percent of their global turnover for EU antitrust violations.

The world's most popular social network sought to settle the EU investigation opened in June last year, other people familiar with the matter told Reuters last December. Details of Meta's proposed concessions had not been previously reported on.

Both the European Commission and Meta declined to comment.

The EU antitrust watchdog last December charged Meta with abusing its market power through two practices, one of which was tying its online classified ads service Facebook Marketplace with its social network Facebook.

The other was allegedly its unfair trading conditions imposed on rival online classified ads services which advertise on Facebook or Instagram. Meta contested the EU charges at a closed hearing earlier this month. 

© Thomson Reuters 2023 


OnePlus Nord 3 brings some serious upgrades over its predecessor, including some flagship-grade specifications. We discuss this and more on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.
Comments

For details of the latest launches and news from Samsung, Xiaomi, Realme, OnePlus, Oppo and other companies at the Mobile World Congress in Barcelona, visit our MWC 2024 hub.

Further reading: Meta, Instagram, Facebook
KuCoin CEO Defends Company's Financial Position After Crypto Firm Reportedly Lays Off 30 Percent of Workforce
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »