BERLIN—Germany’s cartel office said that Meta Platforms Inc., the owner of Facebook, has “paramount significance for competition across markets,” a classification which gives the regulator more leeway to curb digital companies’ market power.
Under legislation introduced by German lawmakers in early 2021, the cartel office can ban what it deems to be anti-competitive activities.
Meta, which also owns Instagram and WhatsApp, operates a strong, ad-supported social media ecosystem that continues to expand and is used by a large portion of the population in Germany, the cartel office said in a statement on Wednesday.
It said the new classification would form the basis for a more rapid conclusion of ongoing antitrust proceedings against Meta.
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