Facebook to receive antitrust charges over Marketplace ads platform: report
Justin Sullivan


Meta Platforms (NASDAQ:META) Facebook unit is set to receive antitrust charges from the European Union over its Marketplace platform, Politico reported.
The news outlet, citing two people familiar with the matter, noted that Facebook will receive a "statement of objections" over how it could leverage Facebook into its classified ads platform, alleging that this is an abuse of dominance.

Regulators are also looking into how Facebook uses data it obtains from advertisers and if they advantage Marketplace compared to the competition in an unfair manner.
The European Commission, which has been investigating Marketplace since July 2021 and recently called on competitors to show evidence of abuse, is likely to issue the charge before Christmas, the people added.
Meta Platforms (META) shares rose more than 7% to $103.31 in early trading on Wednesday.
On Wednesday, Meta Platforms (META) said it would cut 11,000 jobs, with CEO Mark Zuckerberg taking responsibility for the decision.