2019-03-21

Google $GOOGL $GOOG Hit With $1.7 Billion EU Antitrust Fine (video)

EU fines Google $1.7 billion for breaking antitrust rules

March 20, 2019: European Competition Commissioner Margrethe Vestager says Google abused its dominance to prevent the growth of its advertising rivals.

Google has engaged in 'very abusive practices,' EU Commissioner says

European Competition Commissioner Margrethe Vestager speaks to CNBC's Silvia Amaro after the EU fined Google $1.7 billion for breaching antitrust rules.
$GOOGL
In Google's filing with the U.S. Securities and Exchange Commission Wednesday morning, Alphabet Inc. (NASDAQ: GOOGL) stated it would take a €1.49 billion ($1.7 billion) charge in Q1 2019 to pay the European Commission (EC) fine levied for infringement of “European competition law.” The total amount of EC fines against Google now total $9.32 billion.. In June of 2017, Google was fined for $2.7 billion for illegal comparison shopping services and then again for $5.0 billion in July 2018 for illegal practices related to its Android mobile operating system, mobile apps and services.


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