EU Fines Google $2.7 Billion in Antitrust Case
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The European Commission has levied a fine of 2.4 billion euros, or $2.7 billion, against Google. The penalty comes in an antitrust case concerning Google's Web search services. The EU ruled that Google was showing preferential treatment to its own shopping services on its online search site. “In Europe, companies must compete on the merits regardless if they are European or not,” said Margrethe Vestager, the EU's antitrust chief. “What Google has done is illegal under E.U. antitrust rules.”
In response, Google senior vice president and general counsel Kent Walker posted a blog in which he argued that Google's shopping ads serve the needs of consumers. It added, "Given the evidence, 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."
Google's annual revenue exceeds $90 billion.