06:06 AM EDT, 09/18/2024 (MT Newswires) -- Meta Platforms ( META ) is facing a large European Union antitrust fine over its allegations it sought to corner online classified advertising, the Financial Times reported Wednesday, citing unnamed people familiar with the matter.

The regulators allege the company links Facebook to its free Marketplace services in an effort to undermine its rivals, the FT reported.

A final decision could come as early as next month, the FT reported.

An investigation was launched in 2019 amid allegations that Facebook was using its social media position to offer free classified ads while profiting by selling data.

The EU declined to comment. Facebook did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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