Google hit with €2.95 bn by EU in antitrust fine

Brussels [Belgium], September 6: The European Commission has fined Google €2.95 billion for abusing its dominant position in the advertising technology market.
According to a press release from the EU's executive body, the American tech giant allegedly distorted the online ad market by prioritising its own services over those of its competitors. This practice harmed competitors, advertisers, and online publishers alike.
The Commission claims that Google's ownership of various components within the digital ad ecosystem-such as the software used by both advertisers and publishers to purchase online ads-creates "inherent conflicts of interest."
"Google must now come forward with a serious remedy to address its conflicts of interest, and if it fails to do so, we will not hesitate to impose strong remedies," said European Commission Executive Vice President Teresa Ribera in a statement
Google now has until early November to tell the Commission how it intends to resolve that conflict of interest and to remedy the alleged abuse.
Source: Emirates News Agency