Tuesday, 27 June 2017

European Union fines Google to the tune of $2.7 Billion for breaking Antitrust rules

Tech giant Google has been fined $2.7 Billion by the European Union (EU) for having denied "consumers a genuine  choice " bu using it's search engine to unfairly drive consumers to it's shopping platform.

Regulators have said Google must change behavior withing 90 days or risk additional penalties.

Margrethe Vestager the EU's top antitrust official said "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"

In response to the ruling Google stated that it tries to show ads in ways that are helpful to both  buyers and sellers."We respectfully disagree with the conclusions announced today ."We will review the commission's decision in detail as we consider an appeal and we look forward to continuing to make our case a Google spokesman said.

Source: CNN

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