The EU fined online giant Meta almost 800 million euros on Thursday for breaching antitrust rules by giving users of its Facebook social network automatic access to classified ads service Facebook Marketplace.

The European Commission has fined Meta €797.72 million after saying the tech giant's Marketplace held an unfair advantage.

Data from all of a user's previous time spent on Facebook or Instagram, which is typically combined to precisely target an individual with tailored ads, won't be used.

The EU fined online giant Meta almost 800 million euros on Thursday for breaching antitrust rules by giving users of its Facebook social network automatic access to classified ads service Facebook Marketplace.

We will significantly reduce the price of Subscription for no ads, and offer people in the EU an additional new choice to use Facebook and Instagram for free with less personalized ads.

Facebook and Instagram are giving users in Europe the new option to use the social media platforms with less personalized advertising, following pressure from EU officials. Meta announced on Tuesday that Facebook and Instagram users who do not pay for the company's monthly subscription to remove ads will now have the choice to see "significantly" fewer targeted ads.

Meta is introducing a new ad option in Europe that allows Facebook and Instagram users to opt for less data tracking. This free option will show ads based on basic demographics and current browsing activity rather than extensive user history.

Meta has reduced the price of its ad-free subscription versions of Facebook and Instagram by 40 per cent for European Union (EU) users. This has been done to comply with regulatory demands in the region,