Alphabet: European Commission fines Google 2.4 billion euros
(CercleFinance.com) - On Tuesday the European Commission fined Google 2.
42 billion euros for breaching EU antitrust rules, saying that the US company has abused its market dominance as a search engine by giving an illegal advantage to its comparison shopping service.
EU antitrust regulators said that Google has abused its position by promoting its "Google Shopping" service in its search results, and demoting those of competitors.
"What Google has done is illegal under EU antitrust rules," said commissioner Margrethe Vestager. "It denied other companies the chance to compete on the merits and to innovate," she added.
Google must now end the conduct within 90 days or face penalty payments of up to 5% of the average daily worldwide turnover of Alphabet, its parent company.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
42 billion euros for breaching EU antitrust rules, saying that the US company has abused its market dominance as a search engine by giving an illegal advantage to its comparison shopping service.
EU antitrust regulators said that Google has abused its position by promoting its "Google Shopping" service in its search results, and demoting those of competitors.
"What Google has done is illegal under EU antitrust rules," said commissioner Margrethe Vestager. "It denied other companies the chance to compete on the merits and to innovate," she added.
Google must now end the conduct within 90 days or face penalty payments of up to 5% of the average daily worldwide turnover of Alphabet, its parent company.
Copyright (c) 2017 CercleFinance.com. All rights reserved.