On Wednesday Eastern Time, the Social Media giant $Meta Platforms (META.US)$ announced that it will showcase Commodity listings from its competitor $eBay (EBAY.US)$ in response to the EU's antitrust ruling.

According to Meta's statement, this cooperative test will first launch in Germany, France, and the USA. Users can directly browse eBay's Commodity listings on Facebook Marketplace, but the final completion of the Trade must still occur through the eBay platform. This news caused eBay's stock price to rise more than 13% at one point during Regular Trading Hours, ultimately closing with a nearly 10% gain.

In November last year, the European Union made an antitrust ruling against Meta for allegedly bundling its classified advertising service with the Facebook platform while setting unfair trading conditions for competitor second-hand commodity platforms. The ruling required Meta to cease relevant behaviors and imposed a hefty fine of 0.798 billion euros (approximately 0.822 billion USD).

However, Meta has clearly stated that it does not accept the EU's ruling and has appealed to the EU courts. Nevertheless, according to a spokesperson for the European Commission, Meta is obliged to comply with the decision within 90 days of the original ruling.

This antitrust issue involving Meta is one of the last waves of actions initiated by former EU Competition Commissioner Margrethe Vestager during her tenure against large technology companies. Under her leadership, Brussels regulators imposed billions of euros in fines on several tech giants, including fines exceeding 8 billion euros on Alphabet's Google.

It is noteworthy that in addition to the EU's ruling, the United Kingdom's Competition and Markets Authority (CMA) also investigated whether Facebook Marketplace had competition issues. However, unlike the EU's tough stance, the CMA chose to accept the concessions proposed by Meta and ultimately did not further advance the investigation.

Editor/Somer