"This ruling follows a European Union crackdown on Google's market dominance, stemming from a 2017 decision where the company was fined €2.4 billion for unfairly leveraging its search engine to boost its shopping service. Despite Google's plans to appeal the decision, the ruling has opened the door for other companies to seek compensation without having to prove Google's antitrust violations anew."
"The Commission has suggested that Google should consider selling parts of its business to resolve the conflict of interest. In response, Google has proposed changes to its AdTech business to address these concerns, emphasizing the importance of maintaining its current structure to avoid disrupting European publishers and advertisers. Despite these challenges, Wall Street analysts maintain a Strong Buy consensus on Alphabet's stock, with a price target suggesting a potential upside of over 12%."
Alphabet Class A has been ordered by a German court to pay €573 million (about $666 million) to two German price-comparison websites. The ruling stems from a 2017 EU decision that fined Google €2.4 billion for unfairly leveraging its search engine to boost its shopping service, and allows other companies to seek compensation without re-proving antitrust violations. The European Commission is pursuing a €2.95 billion ($3.4 billion) fine over alleged abuses in Google's advertising technology business and has suggested divestitures. Google has proposed AdTech changes to preserve its current structure and avoid disrupting European publishers and advertisers. Wall Street analysts retain a Strong Buy consensus with over 12% upside projected.
Read at TipRanks Financial
Unable to calculate read time
Collection
[
|
...
]