(Reuters) – BRUSSELS In an attempt to resolve an EU antitrust inquiry, Meta Platforms (META.O) proposed to limit the use of rivals’ advertising data for its Facebook Marketplace online classified service, but authorities turned it down, according to individuals familiar with the situation.
According to the sources, its offer also included restricting the use of advertising data to build products that compete with advertisers.
Meta’s suggestion, which is identical to one made to the UK competition office in May, implies that the corporation will need to do more to fight the EU watchdog’s claims if it wants to avoid a potential fine.
According to the sources, Meta is not likely to increase its offer. In a preliminary assessment, the UK enforcer stated that Meta’s offer answers its concerns.
Companies that violate EU antitrust laws face penalties of up to 10% of their global revenue.
Other sources familiar with the subject told Reuters last December that the world’s most popular social network attempted to settle the EU inquiry launched in June of last year. Meta’s planned concessions had not previously been reported on in detail.
Meta and the European Commission both declined to comment.
Last December, the European Union’s antitrust agency accused Meta with abusing its market position via two activities, one of which was linking its online classified advertisements service Facebook Marketplace with its social network Facebook.
The other claim was that it imposed unfair business restrictions on competitor online classified ad firms that promote on Facebook or Instagram. Meta opposed the EU allegations earlier this month in a secret court.