"The European Commission has fined Google €2.95 billion for distorting competition in advertising technology. This is the fourth antitrust sanction for the tech giant in a decade in which EU regulators have been cracking down harder and harder. The decision by Teresa Ribera, the EU competition commissioner, follows a years-long battle to rein in Google's advertising practices. Since 2014, Google has allegedly systematically favored its own display technologies at the expense of competitors and publishers, distorting the online advertising market."
"Google has 60 days to indicate how it will resolve the issues. The EU is keeping all options open, including the breakup of business units. "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," said Ribera."
"Originally, the fine was to be announced on Monday, but EU Trade Commissioner Maroš Šefčovič held it back for fear of US retaliatory measures. President Trump has already threatened tariffs against countries that would take action against American tech companies. This political tension casts a shadow over the EU's approach to Big Tech. At the same time, it highlights the growing importance of advertising technology in the digital economy."
The European Commission fined Google €2.95 billion for systematically favoring its own display advertising technologies since 2014, distorting the online advertising market and disadvantaging competitors and publishers. Google has 60 days to propose remedies; the EU reserves all options, including breaking up business units, and has warned of stronger measures if remedies are insufficient. The fine is the fourth major EU antitrust sanction against Google in a decade, bringing total EU fines to more than €11 billion. Political concerns about U.S. retaliation affected timing of the announcement. Google announced it will appeal the decision.
Read at Techzine Global
Unable to calculate read time
Collection
[
|
...
]