Google has been hit with a record-breaking €2.4 billion fine by the EU over its antitrust case – Rob Price June 27 2017


Sundar PichaiGoogle CEO Sundar Pichai.Justin Sullivan

GOOG Alphabet Rg-C

  • The European Commission has hit Google with a record-breaking €2.4 billion fine in an antitrust case.
  • Google has also been ordered to change its practices to promote the shopping services of its competitors, or be fined up to 5% of worldwide daily turnover.
  • It seems likely to further erode the uneasy relationship between much of Silicon Valley and Europe.
  • The ruling also opens the door to further legal action being taken against Google by competitors.
  • Google says it “respectfully disagree[s]” and is considering whether to appeal the ruling.

LONDON — Google has been hit with a record-breaking fine of €2.4 billion ($2.7 billion, or £2.1 billion) by European regulators.

You can read the full statement from the European Commission here »

The European institution accused the Californian technology giant of abusing its dominant position and promoting its own shopping service in its search results over those of its competitors.

Competition commissioner Margrethe Vestager brought formal charges against Google in 2015.

In a statement, Vestager said: “Google has come up with many innovative products and services that have made a difference to our lives. That’s a good thing. But Google’s strategy for its comparison shopping service wasn’t just about attracting customers by making its product better than those of its rivals. Instead, Google abused its market dominance as a search engine by promoting its own comparison shopping service in its search results, and demoting those of competitors.

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