BRUSSELS: The European Union's competition watchdog has slapped a record 2.42 billion euro ($2.72 billion) fine on internet giant Google for breaching antitrust rules with its online shopping service.
European regulators said Tuesday that "Google has abused its market dominance as a search engine by giving an illegal advantage to another Google product, its comparison shopping service.''
It gave the Mountain View, California, company 90 days to stop or face fines of up to 5 percent of the average daily worldwide turnover of parent company Alphabet.
On its part, Google said that it "respectfully" disagrees with the EU decision. "We respectfully disagree with the conclusions announced today. We will review the (European) Commission's decision in detail as we consider an appeal, and we look forward to continuing to make our case," Kent Walker, the company's senior vice president and general counsel, said in a statement.
The European Commission, which polices EU competition rules, alleges Google elevates its shopping service even when other options might have better deals.
Google maintains it's trying to package its search results in a way that makes it easier for consumers to find what they want.
Source : Gadgetsnow.com
European regulators said Tuesday that "Google has abused its market dominance as a search engine by giving an illegal advantage to another Google product, its comparison shopping service.''
It gave the Mountain View, California, company 90 days to stop or face fines of up to 5 percent of the average daily worldwide turnover of parent company Alphabet.
On its part, Google said that it "respectfully" disagrees with the EU decision. "We respectfully disagree with the conclusions announced today. We will review the (European) Commission's decision in detail as we consider an appeal, and we look forward to continuing to make our case," Kent Walker, the company's senior vice president and general counsel, said in a statement.
The European Commission, which polices EU competition rules, alleges Google elevates its shopping service even when other options might have better deals.
Google maintains it's trying to package its search results in a way that makes it easier for consumers to find what they want.
Source : Gadgetsnow.com
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