by Marc Pinter-Krainer
The European Commission has fined Google €2.42 billion for breaching EU antitrust rules. Google has abused its market dominance as a search engine by giving an illegal advantage to another Google product, its comparison shopping service.
The company must now end the conduct within 90 days or face penalty payments of up to 5% of the average daily worldwide turnover of Alphabet, Google's parent company.
Extracts from the press conference by Margrethe Vestager, Member of the EC, on the abusing dominance of Google as search engine by giving illegal advantage to own comparison shopping service
Source: European Commission
Commissioner Margrethe Vestager, in charge of competition policy, said: "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."