BRUSSELS (Reuters) -The European Fee on Thursday fined Meta Platforms (NASDAQ:) €797.72 million ($840.24 million) over abusive practices benefiting Fb Market, it mentioned in an announcement, confirming an earlier report by Reuters.

“The European Fee has fined Meta … for breaching EU antitrust guidelines by tying its on-line categorized adverts service Fb Market to its private social community Fb and by imposing unfair buying and selling circumstances on different on-line categorized adverts service suppliers,” the European Fee mentioned.

Meta mentioned it’s going to attraction the choice, however within the meantime, it’s going to comply and can work shortly and constructively to launch an answer which addresses the factors raised.

The transfer by the European Fee comes two years after it accused the U.S. tech large of giving its categorized adverts service Fb Market an unfair benefit by bundling the 2 providers collectively.

The European Union opened formal proceedings into potential anticompetitive conduct of Fb in June, 2021, and in December, 2022, raised issues that Meta ties its dominant social community Fb to its on-line categorized advert providers.

Fb launched Market in 2016 and expanded into a number of European international locations a yr later.

The EU resolution argues that Meta imposes Fb Market on individuals who use Fb in an unlawful “tie” however Meta mentioned that argument ignores the truth that Fb customers can select whether or not to interact with Market, and many don’t.

Meta mentioned the Fee claimed that Market had the potential to hinder the expansion of enormous incumbent on-line marketplaces within the EU however couldn’t discover any proof of hurt to opponents.

Firms danger fines of as a lot as 10% of their world turnover for EU antitrust violations.

($1 = 0.9494 euros)