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Google fined 2.4B euros

The European Union slapped a record 2.42 billion-euro ($2.72 billion) fine on internet giant Google on Tuesday for taking advantage of its dominance in online searches to direct customers to its own online shopping business.

European regulators gave the company based in Mountain View, California, 90 days to stop or face more fines of up to 5 per cent of the average daily worldwide revenue of parent company Alphabet.

Google says it is considering an appeal.

The European Commission, which polices EU competition rules, alleges Google elevates its shopping service even when other options might have better deals.

The Commission said Google "gave prominent placement in its search results only to its own comparison shopping service, whilst demoting rival services. It stifled competition on the merits in comparison shopping markets."

"What Google has done is illegal under EU antitrust rules. 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," EU Competition Commissioner Margrethe Vestager told reporters.

Google maintains it's just trying to package its search results in a way that makes it easier for consumers to find what they want.



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