EU Hits Google with USD3.5B Fine
(MENAFN) The European Union has imposed a €2.95 billion ($3.5 billion) fine on tech giant Google for breaching competition laws within its digital advertising operations.
On Friday, the EU Commission announced the conclusion of its probe into Google’s practices in the ad technology sector, finding that the US-based company unlawfully favored its own advertising technology services over competitors.
According to the EU, Google’s preferential treatment violated competition rules, resulting in the hefty penalty. The Commission has also mandated that Google halt these biased practices and resolve conflicts of interest throughout the advertising technology supply chain.
Google must formally report to the EU within 60 days detailing the measures it will implement to comply with these demands.
The investigation, initiated in 2021, culminated in a 2023 accusation that Google abused its dominant market position since 2014 by promoting its own services, thereby enabling it to charge inflated fees.
The EU Commission stressed that such conduct breaches European Union rules prohibiting the abuse of market dominance.
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