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EU Fines Google €2.95 Billion Over Adtech Market Dominence
The fine was reportedly delayed as to not incur the wrath of the US government.
Google has received a €2.95 billion fine from the European Commission over its abuse of its dominant position in the Adtech market.
The EU found that Google had breached its antitrust regulations by favouring its own advertising business across its search engine, its publisher ad server, and its ad-buying tools.
The tech giant has been given 60 days to end these “self-preferencing practices” the EU said, saying that Google must “implement measures to cease its inherent conflicts of interest along the adtech supply chain.”
Teresa Ribera, the EU Commission’s executive vice president for clean, just and competitive transitions said that the tech giant must create a “serious remedy” to address the infringement, saying “if it fails to do so, we will not hesitate to impose strong remedies.”
She said in a statement: “Digital markets exist to serve people and must be grounded in trust and fairness. And when markets fail, public institutions must act to prevent dominant players from abusing their power.”
Google, however, intends to appeal the decision, according to the Wall Street Journal.
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“There’s nothing anticompetitive in providing services for ad buyers and sellers, and there are more alternatives to our services than ever before,” a Google spokesperson told the WSJ.
According to the WSJ, the decision was delayed from its original planned release date due to growing concern about US push back when it comes to EU regulation of American tech companies.
The fine did incite the wrath of US President Donald Trump, who posted on social media: “We cannot let this happen to brilliant and unprecedented American Ingenuity, and, if it does, I will be forced to start a Section 301 proceeding to nullify the unfair penalties being charged to these Taxpaying American Companies.”
