Google faces record $3.4b an­titrust fine

Pakistan Observer - - ECONOMY WATCH -

LON­DON—Google faces a record an­titrust fine of around 3 bil­lion eu­ros ($3.4 bil­lion) from the Euro­pean Com­mis­sion in the com­ing weeks, the Bri­tish news­pa­per Sun­day Tele­graph said.

The Euro­pean Union has ac­cused Google of pro­mot­ing its shop­ping ser­vice in In­ter­net searches at the ex­pense of ri­val ser­vices in a case that has dragged on since late 2010.

Sev­eral peo­ple fa­mil­iar with the mat­ter told Reuters last month they be­lieved that af­ter three failed at­tempts at a com­pro­mise in the past six years Google now had no plans to try to set­tle the al­le­ga­tions un­less the EU watch­dog changed its stance.

The Tele­graph cited sources close to the sit­u­a­tion as say­ing of­fi­cials planned to an­nounce the fine as early as next month, but that the bill had not yet been fi­nal­ized.

Google will also be banned from con­tin­u­ing to ma­nip­u­late search re­sults to fa­vor it­self and harm ri­vals, the news­pa­per said.—Reuters

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