Published on June 29th, 2017 | by Subhash Nair0
Google Got Fined US$2.72 Billion by the EU
The EU has hit Google with a huge fine for exploiting its dominance of the search engine market. Specifically, the European Union wasn’t too happy about Google directing customers to their own shopping business.
According to Margrethe Vestager, Google denied other companies the opportunity to compete on a level playing field. They also denied European consumers a true choice of services.
The fine is rather substantial, but Google will probably not be toppled by it. The problem, however, is that the EU has given Google 3 months to submit an alternative way of doing things or risk being fined up to 5% of the average daily revenue of Alphabet Inc. Alphabet Inc, is, of course, Google’s parent company.
Google will be appealing the EU’s decision.