Tuesday, 27 June 2017

Google Hit by Record EUR 2.42-Billion Fine for Breaching EU Antitrust Rules

The EU( European Commission) has fined Google EUR 2.42 billion($2.42 billion or roughly Rs. 17,541 crores) for breaching EU antitrust rules." a statement said, adding that the Silicon Valley juggernaut had abused its market dominance as the world's most popular search engine to give illegal advantage to its Google Shopping service.

Google maintains it's trying to package its search results in a way that makes it easier for consumers to find what they want.

"We respectfully disagree with the conclusions announced today. We will review the ( European ) Commission's decision in detail as we consider an appeal, and we look forward to continuing to make our case," Kent Walker, Google's senior vice president and general counsel, said in a statement.

This is the biggest fine for a single company n an EU antitrust case, exceeding a EUR 1.06-billion sanction handed down to US chipmaker Intel in 2009.
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