Google slapped by EU with $3.45 billion antitrust fine
Google faced a hefty 2.95-billion-euro ($3.45 billion) antitrust fine from European Union regulators for engaging in anti-competitive practices within its advertising technology sector.
The European Commission accused Google of unfairly favoring its display advertising technology services over competitors, advertisers, and online publishers, distorting competition in the adtech market.
In response, the EU ordered Google to end these self-preferencing practices and address conflicts of interest along the adtech supply chain within 60 days.
EU competition chief Teresa Ribera emphasized that Google’s actions harmed various stakeholders and violated antitrust rules, urging the tech giant to implement necessary remedies.
Google’s global head of regulatory affairs, Lee-Anne Mulholland, criticized the decision, stating that it will appeal against the fine and changes that may negatively impact European businesses.
The investigation into Google’s online display ad technology services began in 2021, leading to the recent antitrust fine announcement by the EU.
A recent report by Reuters suggested that the fine’s delay was linked to U.S. tariff reductions on European cars, indicating potential trade deal implications.
