"It imposes an unjustified fine and requires changes that will hurt thousands of European businesses by making it harder for them to make money," said Lee-Anne Mulholland, Google's global head of regulatory affairs, when the fine was imposed."
"As a result, Google has been ordered to stop these "self-preferencing practices" and "implement measures to cease its inherent conflicts of interest along the adtech supply chain.""
"It is understood that the plan won't include a sale of Google's Ad Manager, the AdX exchange and DoubleClick for Publishers, despite European regulators previously flagging divestment as the only way to ensure fair competition."
Alphabet's Google unit will meet the EU's November deadline to propose changes to its advertising technology business after a €3.5 billion fine. The plan will not include a full breakup or sales of Ad Manager, the AdX exchange, or DoubleClick for Publishers. The EU raised the fine by 60% for repeat violations, bringing Google's antitrust penalties in the EU to almost €10 billion over the past decade. Google intends to appeal the penalty and stated the decision was wrong. Regulators found that Google favored its own adtech services, allowing higher fees and reduced competition. The EU ordered Google to stop self-preferencing and address conflicts across the adtech supply chain.
Read at TipRanks Financial
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