Tuesday, 27 June 2017

EU fines Google $2.7bn for breaching competition rules

The European Union has imposed a record €2.42bn ($2.72bn) fine on technology giant Google, for abusing its dominance as a search engine by giving illegal advantage to its own shopping service.

"What Google has done is illegal under EU antitrust rules. It denied other companies the chance to compete on the merits and to innovate," Margrethe Vestager, the European commissioner for competition, said in a statement.


"And most importantly, it denied European consumers a genuine choice of services and the full benefits of innovation." Brussels has given the US tech giant 90 days to change its business model for Google Shopping, or face further penalty payments.

Vestager alleged Google elevated its shopping service even when other options might have better deals.

Google said it "respectfully" disagreed with the ruling. Google insisted that it "shows shopping ads, connecting our users with thousands of advertisers, large and small, in ways that are useful for both."

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