OLX, the Dutch online marketplace, is aiding European antitrust enforcers in their investigation into Facebook parent company Meta Platforms (META. O). The European Commission has alleged that Meta has given themselves an unfair competitive advantage by connecting their classified advertisements service Marketplace with their social network, Facebook, while imposing unfair trading terms on rival online classifieds.
According to Reuters, during a closed hearing, Meta contested the charges laid out by the EU competition enforcer last week. An OLX spokeswoman stated: “We welcome fair competition and will follow the progress of the Commission’s hearing with interest.” The company also went further to assure they are taking part in the hearing ‘to contribute to their (EU) investigation about Meta antitrust practices’. Norwegian media group Schibsted (SCHA. OL) also attended the EU hearing.
It will be interesting to see if the Commission will find in favour of, or take punitive action against Meta in the coming months. The results of the hearing could have serious implications in the online classifieds market. As one of the leading companies in this sphere, OLX has a lot invested in the outcome of this case.