MOSCOW (Pakistan Point News / Sputnik - 04th June, 2021) The European Commission announced on Friday opening a formal antitrust investigation against Facebook to assess if the online giant violated EU competition rules.
"The European Commission has opened a formal antitrust investigation to assess whether Facebook violated EU competition rules by using advertising data gathered in particular from advertisers in order to compete with them in markets where Facebook is active such as classified ads. The formal investigation will also assess whether Facebook ties its online classified ads service "Facebook Marketplace" to its social network, in breach of EU competition rules," the commission said in a press release.
European Commission Executive Vice President Margrethe Vestager pledged that the commission would look into detail into whether the collected data "gives Facebook an undue competitive advantage."
According to the press release, the European Commission will cooperate closely with the UK Competition and Markets Authority, which launched its independent investigation into Facebook's use of data.
