EU fines Google €2.4bn after losing appeal
04-09-24
The European Court of Justice ruled Tuesday that it will uphold an earlier European Commission ruling and slap a €2.4 billion fine on Google over Google Shopping, ending a multi-year antitrust case against the tech giant.
The fine, initially announced in 2017 and then appealed by Google and Alphabet, is imposed on the internet giant for abusing its ‘dominant position’ in several online search markets by favouring its own shopping service over that of its competitors.
In a statement on today's decision, European Commission executive vice-president Margrethe Vestager called the decision a ‘milestone’ in the history of regulatory action against tech giants.
‘This case was symbolic because it showed that even the most powerful tech companies can be held accountable for their actions. No one is above the law. It inspired regulators and lawmakers around the world to take a closer look at the activities of digital giants. The Google Shopping case set a precedent and paved the way for future regulatory action, including the European Union's Digital Markets Act (DMA)’.
This case specifically relates to Google Shopping and the way Google gives preferential treatment in its search results to its own price comparison service.
For several years, many travel technology leaders have lobbied the European Commission to address Google's dominance in online search, limiting their companies' ability to compete.
According to reports in The New York Times and BBC, Google said in a statement on Tuesday that it was ‘disappointed’ by the ruling and that it believes it has already adjusted its product to comply with the 2017 decision.
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