Suspected of monopolizing the classified advertising market, Meta (META.US) may face hefty fines from the European Union.

According to informed sources, Meta Platforms (META.US) faces a huge fine from the European Union for allegedly monopolizing the classified advertising market. Reports suggest that EU regulators will accuse Facebook's parent company Meta of tying its free marketplace services to its social network to weaken competitors. The EU is expected to make a decision as early as next month, which will be one of the last investigations overseen by the EU's outgoing competition chief Margrethe Vestager. Meta and the EU did not immediately respond to media requests for comment.