Facebook’s Marketplace in antitrust crosshairs
Facebook faces probes from the European Union and the UK that could force it to pay hefty fines and change its business model. The two have launched antitrust investigations into the social network’s, used of advertising data in its classified ad service,
The European commission and Britain’s Competition and markets authority are probing whether Facebook uses data from advertisers to compete with them. It marks European competition commissioner Margaret Avestia’s. First antitrust probe into the world’s largest social network and her latest fight with one of the U.S. tech giants.
Vestiga has slapped more than 9.7 billion dollars in fines on alphabet unit. Google and is also investigating Amazon and apple. She plans to focus on Facebook’s, vast trove of data from the nearly seven million companies that advertise on it on Friday.
She said in today’s. Digital economy data should not be used in ways that distort competition. Britain’s. Competition and markets authority also announced its own investigation. Facebook said it would cooperate fully with both but described the probes as without merit.