At the beginning of the week, there were reports on the airwaves, that Facebook's parent company Meta is considering shutting down Facebook and Instagram on the old continent due to new EU rules on user data protection. However, she has now come out with a statement that she had never considered such a thing.
The great publicity surrounding Meta's possible departure from Europe forced the company to release a statement that can be summed up as "we were misunderstood". In it, Meta stated that it had no intention of leaving Europe and that it had not threatened to shut down its key services such as Facebook and Instagram. It noted that it had "identified a business risk associated with the uncertainty surrounding the international transfer of data".
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"International data transmission is the foundation of the global economy and supports many services that are essential to our daily lives. Businesses across industries need clear, global rules for the long-term protection of transatlantic data flows.” Meta also said.
It is worth recalling that Meta is now facing a lawsuit in the UK for more than 2,3 billion pounds (just under 67 billion crowns). The lawsuit alleges that Facebook abused its dominant market position by profiting from access to the personal data of tens of millions of its users. The company also has to deal with a drop of more than $200 billion in its market value, which occurred after it reported results for the last quarter of last year and an outlook for the first quarter of this year.
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