"European Union regulators on Friday hit Google with a 2.95 billion euro ($3.5 billion) fine for breaching the bloc's competition rules by favoring its own digital advertising services, marking the fourth such antitrust penalty for the company. The European Commission, the 27-nation bloc's executive branch and top antitrust enforcer, also ordered the U.S. tech giant to end its "self-preferencing practices" and take steps to stop "conflicts of interest" along the advertising technology supply chain."
"EU regulators had previously threatened a breakup of the company but held off on that threat for the time being. Google said the decision was "wrong" and that it would appeal. "It imposes an unjustified fine and requires changes that will hurt thousands of European businesses by making it harder for them to make money," Lee-Anne Mulholland, the company's global head of regulatory affairs, said in a statement."
EU regulators fined Google €2.95 billion for breaching competition rules by favoring its own digital advertising services and ordered the company to end self-preferencing and address conflicts of interest in the ad-technology supply chain. The European Commission mentioned possible divestment but stopped short of a forced breakup. Google said the decision was wrong and will appeal, warning the changes could harm European businesses. The action follows antitrust charges filed over two years ago and occurs amid strained relations between Brussels and Washington. Separate U.S. legal action seeks divestiture of Chrome after a judge found an illegal search monopoly.
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