The European Commission said the company tied its classified-ads platform to its flagship social network, undermining competition.

The executive arm of the European Union isn’t shying away from slapping major tech companies with hefty fines. The European Commission has fined Meta €797.12 million ($842 million) for violating antitrust regulations.

Personalised advertising boosts revenue for companies, Meta said in a press release. It referenced an in-house study showing that Apple’s App Tracking Transparency requirement mandates that iOS apps must ask users for permission to share their data-led companies to increase prices by at least 3.4% as their ads became less effective.

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.

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,