EU SLAPS GOOGLE WITH RECORD $2.7 BILLION fiNE

US - European Union regulators slapped Google with a record 2.4 billion euro antitrust fine yesterday, the latest broadside fired at big American tech companies doing business in the region.

The European Commission found that the US tech giant denied “consumers a genuine choice” by using its search engine to unfairly steer them to its own shopping platform. Regulators said that Google must change its behavior within 90 days or face additional penalties. “What Google has done is illegal under EU antitrust rules”, said Margrethe Vestager, the bloc’s top antitrust official. “It denied other companies the chance to compete on the merits and to innovate. And most importantly, it denied European consumers a genuine choice of services and the full benefits of innovation.” Google said in a statement that it tries to show ads in ways that are helpful for buyers and sellers.

“We respectfully disagree with the conclusions announced today”, a Google spokesperson said. “We will review the Commission’s decision in detail as we consider an appeal, and we look forward to continuing to make our case.” The Commission said that Google acted illegally by giving priority placement in search results to its own shopping service, while relegating results from rivals to areas where potential buyers were much less likely to click. (CNN.COM)