Meta Platforms Inc. proposes to post a listing on Facebook Marketplace from confidential advertising rival Ebay Inc. to comply with landmark EU antitrust orders accompanied by €798 million (USD 822 million or approximately Rs 7,061 crore) .
The Monlo Park, California-based company said Wednesday it will conduct a test in Germany, France and the United States that will allow “buyers to browse the eBay list directly on Facebook Marketplace while completing transactions on eBay .”
Despite the changes, the company said in a blog post that it continues to disagree with the EU’s decision and appealed through the group court. eBay shares rose 7.4% in New York trading at 9:19 a.m.
Meta’s changes mark an effort to comply with the EU’s decision in November, which ordered the company to stop linking its confidential services to Facebook’s social media platform and avoid imposing on competitors’ second-hand merchandise platforms Unfair trading conditions.
A committee spokesman said Mehta was responsible for complying with the decision within 90 days of the initial decision.
The millions of euros fines that accompany the order are one of the final actions of former EU competition chief and Big Tech Trustbuster Margrethe Vestager. Under her watch, the Brussels-based regulator levied billions of euros on antitrust fines from large U.S. technology companies, including more than 8 billion euros in fines against Alphabet Inc.’s Google.
The UK’s Competition and Markets Authority also reviewed allegations against the Facebook market, and the agency decided to accept the company’s concessions rather than conduct further investigations.
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