The European Commission on Thursday fined Meta Platforms €797.72 million ($840.24 million) over abusive practices benefiting Facebook Marketplace, it said in a statement, confirming an earlier report by Reuters.

European enforcers accused the tech giant of using its popular social network to unfairly advantage its classified-ads business.

The European Commission has fined Meta Platforms €797.72 million for engaging in abusive practices with Facebook Marketplace. Meta plans to appeal, arguing that the EU has presented no evidence of harm to competitors or consumers,