“What Google has done is illegal under EU antitrust rules,” declared Margrethe Vestager, the European Union’s Competition Commissioner.


Google said it may appeal







Popular search engine Google has been fined the sum of 2.42bn euros ($2.7bn) by the European Commission after it ruled the company had abused its power by promoting its own shopping comparison service at the top of search results.



The total amount is the regulator’s largest penalty against a company accused of distorting the market.



The commision also noted that if google don’t change the way it operates the Shopping service within the period of three-month, it would be ordered to make payments of 5% of its parent company Alphabet’s average daily worldwide earnings.




Margrethe Vestager, the European Union’s Competition Commissioner.


This is based on the company’s most recent financial report, that amounts to about $14m a day.


The commission said it was leaving it to Google to determine what alterations should be made to its Shopping service rather than specifying a remedy.



The European Union’s Competition Commissioner explained that the anti-competitive practices which has denied other firms to compete on their merits and to innovate is illegal under the EU antitrust rules.



“What Google has done is illegal under EU antitrust rules,” declared Margrethe Vestager, the European Union’s Competition Commissioner.



“It has denied other companies the chance to compete on their merits and to innovate, and most importantly it has denied European consumers the benefits of competition, genuine choice and innovation.”



The Commissioner added that the decision could now set a precedent that determines how she handles related complaints about the prominence Google gives to its own maps, flight price results and local business listings within its search tools.



Reacting to the ruling, Google spokesman said “When you shop online, you want to find the products you’re looking for quickly and easily.



“And advertisers want to promote those same products. That’s why Google shows shopping ads, connecting our users with thousands of advertisers, large and small, in ways that are useful for both.



“We respectfully disagree with the conclusions announced today. We will review the Commission’s decision in detail as we consider an appeal, and we look forward to continuing to make our case.”


Mynd44

Lalasticlala



http://www.eyereport.com.ng/google-fined-e2-42bn-2-7bn-by-eu/

Can u imagine that this people mailed me about this..as if it concerns me.

Hmmm... Dats serious o