Meta hit with $840 million EU fine over antitrust concerns

The European Commission, the executive arm of the European Union, has hit Meta, the company that owns Facebook, Instagram, and Threads, with a fine worth $840 million for what it classifies as an antitrust violation.

The fine amounts to €797.72 million, or more than $840 million, and was issued by the commission for “imposing unfair trading conditions on other online classified ads service providers,” according to a press release.