Report: Google could be hit by record €1B+ fine in EU antitrust case
The record €1 billion penalty that the European Union issued to Intel Corp. in 2009 over unlawful business practices could soon be topped.
On Friday, anonymous sources told the Financial Times and The New York Times that Google Inc. is set to be hit by a potentially even bigger fine from the EU’s antitrust body as part of a long-running case concerning its search business. European regulators reportedly believe that the technology giant has prioritized its e-commerce service over rivals in search results to win a larger share of user traffic.
The insiders claim that Margrethe Vestager, the EU’s competition commissioner, is in the final stages of ruling on the matter and may hand out the fine as soon as a few weeks from now. If their information proves accurate, the decision will conclude seven years of legal wrangling that began during the tenure of Vestager’s predecessor, Joaquín Almunia. He rejected no fewer than three settlement offers from Google to pursue the case.
The EU’s decision to see the dispute through could have much broader consequences for the search giant than just a hefty legal bill. Besides the penalty, the sources also expect Vestager to demand that Google change how it provides online shopping services. If previous antitrust cases in the region are any indication, the company will likely be given a deadline to make the necessary modifications and handed out additional fines for any delays.
At the same time, competing online shopping providers could gain an opening to file damages claims against Google. And that’s not even mentioning the two other antitrust investigations it’s currently facing in EU. The company’s legal disputes could draw on for years as its lawyers work to challenge the allegations in the European Court of Justice, which it’s worth noting has yet to overrule a decision by the regional competition authority.
Image: Google
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