Tuesday, 02 January 2024 12:17 GMT

European Commission Fines Google $3.5 Billion


(MENAFN- The Peninsula) QNA

Brussels: The European Commission (EC) Friday imposed a EUR 2.95 billion ($3.5 billion) fine on Google for violating European Union (EU) competition rules by favoring its own digital advertising services.

The EC, the executive arm of the 27-nation European Union (EU), ordered the US tech giant to end its practice of favoring its own services and take steps to eliminate "conflicts of interest" across its advertising technology supply chain.

Google announced its intention to appeal the decision, which it said imposed an unjustified fine and required changes that would negatively impact thousands of European companies and make it harder for them to generate profits.

It is noteworthy that in September 2024, a EU court overturned EUR 1.49 billion ($1.65 billion) fine imposed by the Commission on Google for abusing its dominant position in online advertising.

The EU also imposed EUR 8.2 billion in fines on the company between 2017 and 2019 for violating antitrust laws.

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