"No Desire To Withdraw From Europe," Says Facebook's Meta Amid Data Row
NDTV
Data is central to the ad business that generates nearly all of Meta's billion of dollars in revenue, and frameworks that have overseen the transfer of information from the Europe are now in limbo.
Facebook's parent firm Meta said Monday it has no plans to pull its services from Europe, after raising the possibility amid an ongoing row over transferring European data to the United States.
Data is central to the ad business that generates nearly all of the company's billion of dollars in revenue, and frameworks that have overseen the transfer of information from the continent are now in limbo.
"We have absolutely no desire and no plans to withdraw from Europe, but the simple reality is that Meta, and many other businesses, organisations and services, rely on data transfers between the EU and the US in order to operate global services," the firm said in a statement.
The crucial "Privacy Shield" online data arrangement between Europe and the United States was invalidated in July 2020 in a top EU court decision that threw transatlantic big tech into legal uncertainty.
