The European Commission has announced that it has completed its Anti Trust investigation into Google and their shopping comparison service and the regulators are fining Google a massive €2.42 Billion.
The regulator has said that Google now has 90 days to stop promoting its shopping service in search results or it will face penalty payments of up to 5% of the average daily turnover of Alphabet, its parent company.
Commissioner Margrethe Vestager, in charge of competition policy, said: “Google has come up with many innovative products and services that have made a difference to our lives. That’s a good thing. But Google’s strategy for its comparison shopping service wasn’t just about attracting customers by making its product better than those of its rivals. Instead, Google abused its market dominance as a search engine by promoting its own comparison shopping service in its search results, and demoting those of competitors.
What Google has done is illegal under EU antitrust rules. It denied other companies the chance to compete on the merits and to innovate. And most importantly, it denied European consumers a genuine choice of services and the full benefits of innovation.”
As yet there is no official statement from Google on the fine, you can find out more details about the finding of the EU regulators at the link below.
Source European Commission
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