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EU Initiates Antitrust Inquiry in Facebook’s Marketplace: Reuters

The E.U. antitrust regulators launched a probe into Facebook Inc’s (NASDAQ:FB) Marketplace to track the potential violation of the E.U.…
byAnusuya Lahiri
June 4, 2021
1 minute read
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  • The E.U. antitrust regulators launched a probe into Facebook Inc’s (NASDAQ:FB) Marketplace to track the potential violation of the E.U. rules by employing advertising data to compete with the advertisers in classified ads, Reuters reports.
  • Facebook refuted the allegations and ensured complete cooperation.
  • Facebook also acknowledged that Marketplace and dating offer people more choices and operate in a highly competitive environment with multiple big incumbents.
  • Last month the European Competition Commissioner was reportedly preparing to launch the probe.
  • Price action: FB shares traded higher by 1.80% at $331.91 during the market session on the last check Friday.
 
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