Meta down; Reuters reports social firm likely faces fresh EU fine over business model

Facebook and Instagram owner Meta's META.O shares down 1.7% at $714.98

Meta is unlikely to offer more changes to its pay-or-consent model, meaning it is almost certain to be hit by fresh EU antitrust charges and hefty daily fines, Reuters said in an exclusive report

The European Commission last month warned Meta of possible daily fines after being told that the social media co would only make limited changes to its model to comply with the EU's Digital Markets Act (DMA)

Meta was hit with a 200-million-euro fine in April after the EU antitrust enforcer said co's pay-or-consent model breached the DMA

As of last close, stock up ~24% this year