According to sources, Meta (META.US) will face a fine of billions of dollars from the EU for violating competition rules. Several insiders said on Thursday that regulatory agencies are expected to announce the fine soon. Antitrust officials accused the US company of interlinking its Facebook online network with Facebook Marketplace, which is unacceptable. In addition, according to reports, when market competitors try to advertise on Facebook or Instagram, Meta puts them at a disadvantage.

Sources added that the decision on the payment of the fine is expected to be announced before the current EU Commissioner for Competition, Margrethe Vestager, ends her term in November. The European Commission declined to comment on this matter. Meta confirmed an earlier statement, stating that these allegations are unfounded. In violation of EU antitrust law, the company faces a fine of up to 10% of its global annual revenue. For Meta, this translates to $13.4 billion. However, the actual amount of the fine imposed is usually much lower.

The EU's punishment for Meta's violation of competition rules is expected to include a huge fine, which, according to competition rules, could be as high as $13.4 billion, given its global revenue. This so-called competitive harm stems from Meta's unfair practices, such as discriminating against Marketplace competitors trying to advertise on Facebook or Instagram.

An insider at Meta-Holding hinted that once the details of the investigation and EU punishment are finalized, the company may challenge the accusations of interlinking its Facebook network with Facebook Marketplace, which has a negative impact on competitors.