Google Fined Record $2.7 Billion in E.U. Antitrust Ruling
RisingWorld
2017-06-28
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Google Fined Record $2.7 Billion in E.U. Antitrust Ruling
By levying the fine against Google — more than double the previous largest penalty in this type of antitrust case — Margrethe Vestager, the European Union’s
antitrust chief, also laid claim to being the Western world’s most active regulator of digital services, an industry still dominated by Silicon Valley.
“We will review the commission’s decision in detail as we consider an appeal, and we look forward to continuing to make our case.â€
Despite Google’s denials, the record fine — the previous high, against Intel in 2009, was €1.06 billion — represents a bloody nose for a company
that holds a market share of more than 90 percent in online search in Europe.
By levying the fine against Google — more than double the previous largest penalty in this type of antitrust case — Margrethe Vestager, the European Union’s
antitrust chief, also laid claim to being the Western world’s most active regulator of digital services, an industry still dominated by Silicon Valley.
“We will review the commission’s decision in detail as we consider an appeal, and we look forward to continuing to make our case.â€
Despite Google’s denials, the record fine — the previous high, against Intel in 2009, was €1.06 billion — represents a bloody nose for a company
that holds a market share of more than 90 percent in online search in Europe.
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