Facebook shares fall as Zuckerberg agrees to closed, EU meeting

Facebook shares closed lower amid news its CEO will attend an EU parliamentary meeting in Brussels to discuss the platform's data use. However, Zuckerberg has yet to agree to a UK hearing.

Facebook shares fall as Zuckerberg agrees to closed, EU meeting

Facebook shares closed lower in the US Wednesday, as the social media platform’s CEO agreed to a meeting with European Union parliamentary members. However, Mark Zuckerberg is only set to attend a meeting behind closed doors, rather than face an open committee hearing.

In addition, Facebook continues to snub UK parliamentary committee efforts to encourage him to agree to a UK hearing.

Facebook shares ended the US Wednesday trading session 0.61% lower at $183.20. The stock is also in the red in after-hours activity.

Facebook’s EU talks

Facebook has confirmed that Zuckerberg will attend a meeting with European parliamentary members in Brussels. And while a date has yet to be set, European Parliamentary president Tajani has said he hopes it could be as soon as next week.

“The Conference of Presidents has agreed that Mark Zuckerberg should come to clarify issues related to the use of personal data in a meeting with representatives of the European Parliament,” Tajani said in a statement.

“The founder and CEO of Facebook has accepted our invitation and will be in Brussels as soon as possible, hopefully already next week,” he added.

However, there are some Parliamentary members who are unhappy that the meeting will be behind closed doors.

“I will not attend the meeting with Mr Zuckerberg if it’s held behind closed doors. It must be a public hearing – why not a Facebook Live?” tweeted Guy Verhofstadt, a Belgian politician who is also a Brexit negotiator on behalf of the European Parliament.

Zuckerberg continues to rebuff UK hearing request

While Zuckerberg will soon be in Brussels to answer some important questions over the social media platforms data policies and use, he remains unmoved with regards an invitation to attend a hearing with the UK’s Digital, Culture, Media and Sport Committee.

That’s even though Facebook has admitted that of the 2.7 million European users who could be affected by the Cambridge Analytica scandal, over one million of them could be in the UK.

“Although Facebook says Mr Zuckerberg has no plans to travel to the UK, we would also be open to taking his evidence by video link, if that would be the only way to do this during the period of our inquiry,” committee chairman, Damian Collins writes in a letter to Facebook.

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