- The E.U. antitrust regulators launched a probe into Facebook Inc’s FB Marketplace to track the potential violation of the E.U. rules by employing advertising data to compete with the advertisers in classified ads, Reuters reports.
- Facebook refuted the allegations and ensured complete cooperation.
- Facebook also acknowledged that Marketplace and dating offer people more choices and operate in a highly competitive environment with multiple big incumbents.
- Last month the European Competition Commissioner was reportedly preparing to launch the probe.
- Price action: FB shares traded higher by 1.80% at $331.91 during the market session on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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