Google fined record 2.4 bln euros by EU

BRUSSELS: The EU hit Google with a record 2.4-billion-euro antitrust fine yesterday for favouring its own shopping service, in a fresh assault on a US tech giant that risks the wrath of President Donald Trump.

Hard-charging European Commission competition chief Margrethe Vestager said Google had ‘abused its market dominance’ as the world’s most popular search engine to give illegal advantage to its Google Shopping service.

“What Google has done is illegal under EU antitrust rules. It denied other companies the chance to compete on the merits and to innovate,” Denmark’s Vestager told a news conference.

“And most importantly, it denied European consumers a genuine choice of services and the full benefits of innovation.”

Google now has 90 days to “end this conduct” or face further penalty payments, Vestager said.

The fine broke the previous EU record for a monopoly case against US chipmaker Intel of 1.06 billion euros in 2009. Google said that it ‘respectfully’ disagreed with the EU decision, which followed a seven-year investigation, and was considering an appeal.

“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,” Kent Walker, the company’s senior vice president and general counsel, said in a statement.

Google insisted that it “shows shopping ads, connecting our users with thousands of advertisers, large and small, in ways that are useful for both.”