"The EU antitrust enforcer on Friday walloped US tech giant Google with a €2.95 billion fine for self-preferencing its ad exchange tool "AdX", while dominating the market with its publisher ad server and its ad buying tools. "Google must now come forward with a serious remedy to address its conflicts of interest, and if it fails to do so, we will not hesitate to impose strong remedies," EU Competition Commissioner Teresa Ribera said in a statement, adding: "Digital markets exist to serve people and must be grounded in trust and fairness.""
"Lee-Anne Mulholland, the firm's vice President, said in a statement that the fine was "unjustified" and that the changes required "will hurt thousands of European businesses by making it harder for them to make money." The company announced on Friday that it will appeal the Commission's decision. This decision comes amid heightened tensions with the US administration, as US president Donald Trump recently threatened the EU with tariffs if it were to target US Big Tech companies again."
EU competition authorities fined Google €2.95 billion for self-preferencing its ad exchange tool AdX while leveraging dominance in its publisher ad server and ad-buying tools. Google has 60 days to stop practices judged anti-competitive or face stronger remedies. The Commission opened formal proceedings in June 2021. Commissioner Teresa Ribera called for serious remedies and framed digital markets as requiring trust and fairness. Google called the fine unjustified, warned changes would harm thousands of European businesses and announced it will appeal. The ruling emerges amid heightened EU–US tensions and reports that officials postponed publication to avoid provoking US trade threats.
Read at euronews
Unable to calculate read time
Collection
[
|
...
]