EU antitrust regulators refuse Meta’s offer to limit ad data usage.

BRUSSELS (Reuters) – Meta Platforms offered to curb the use of competitors’ advertising data for its Facebook Marketplace online classified service in an attempt to settle an EU antitrust investigation but it was not accepted by regulators, people familiar with the matter said.

Meta’s proposal, made months ago and similar to one made to the UK competition agency in May, is an indication that the EU watchdog wants more concessions from the U.S. company.

Its offer also included limiting the use of advertising data to develop products that compete with advertisers, the people said.

The world’s most popular social network sought to settle the EU investigation opened in June last year, other people familiar with the matter told Reuters last December. Details of Meta’s proposed concessions had not been previously reported on.

(Reporting by Foo Yun Chee; Editing by Susan Fenton)