Facebook Parent Meta Pauses Data Center Plans In Netherlands

• Meta Platforms Inc (NASDAQ:FB) had halted plans to build a large data center in the Netherlands following intense government backlash, Bloomberg reports.
• The local, provincial and national governments invited Meta in 2019 to consider a data center investment in the Netherlands in the region of Zeewolde.
• However, the Dutch Senate approved a motion to reconsider the plan.
• Meta also faced opposition at the local level over a potential clash with the country’s national vision for sustainability.
• In February, the Dutch government announced a nine-month block on data center permits exceeding 10 hectares, citing a lack of space.
• Price Action: FB shares traded higher by 2.86% at $229.96 on the last check Tuesday.