wnol.info November 24 2017


Google files to appeal $2.73BN EU antitrust fine

November 24 2017, 09:55 | Alonzo Simpson

Google Appeals Record EU Antitrust Fine

Ellington Financial book value stable in August

"Instead, Google abused its market dominance as a search engine by promoting its own comparison shopping service in its search results, and demoting those of competitors".

Google has launched an appeal against a €2.4bn (£2.2bn) fine that the European Commission ordered it to pay in June for breaching anti-trust rules with its online shopping service.

The EU Court of Justice (ECJ) told a lower tribunal last Wednesday to re-examine U.S. chip-maker Intel's appeal against a 1.06bn Euro fine, dealing a rare setback to the European Commission.

Google had been given 90 days to stop the favouritism or face a penalty of up to 5% of the average daily turnover of its parent company Alphabet.

The company has submitted plans on how it plans to stop favouring its shopping service and these are now being reviewed by Brussels. The company declined to give further details of its appeal.

At the time of the ruling, the tech giant had said it "respectfully" disagreed with the findings and would consider an appeal.

A court battle between Brussels and Google could take years to resolve and adds to an increasingly bitter row between the United States giant and European countries.

Google took its fight over a record European Union antitrust fine to the EU courts, starting a legal challenge that could take years to conclude.

The EU's competition commission had ruled that Google abused its dominant position to favor its own shopping comparison service in internet searches, ordering the company to stop the practice by September 28.



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