The European Commission has fined Meta €797.72 million after saying the tech giant's Marketplace held an unfair advantage.

The European Union has fined Facebook’s parent company Meta over $840 million for violating antitrust laws through its Facebook Marketplace classified ads platform. European regulators say Facebook Marketplace has an unfair advantage over competitors due to the dominance of Facebook’s social media network.

Meta has been fined nearly €800 million by Brussels after regulators accused Facebook’s parent company of stifling competition by “tying” its free Marketplace services with the social network.