Friday, 22 September, 2017

Google has appealed a $2.4 billion fine from the EU

Google antitrust Ellington Financial book value stable in August
Saul Franklin | 12 September, 2017, 00:45

Google has lodged its appeal to the EU's Luxembourg-based European Court of Justice over the €2.4 billion fine imposed on it by the European Commission Competition Directorate for favouring its shopping service in search results.

The EU had earlier slammed Google in June with a fine of 2.4-billion euro for illegally favoring its shopping centers in the search results.

A Google spokesman said at the time that they "respectfully disagreed" with the ruling.

If it did not, the Commission said, it faced penalty payments of up to 5 per cent of the average daily worldwide turnover of Alphabet, which is Google's parent company.

The regulator further said that Google could be facing more fines should it continue with its practices, the tach giant has said it had no further comment.

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"The Commission's decision stands on firm ground, both legally and factually, and we expect the Commission to win on appeal", FairSearch lawyer Thomas Vinje said. "It denied other companies the chance to compete on the merits and to innovate".

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.

For its part, Google was found guilty of misusing its search engine to promote another service, "Google Shopping", previously known as Google Product Search and Froogle, causing traffic drops of up to 90 percent for its competitors.

The EU flag is seen with Google logo.

The EU is now also investigating whether Google tried to squeeze out its rivals in online search advertising and through its Android mobile operating system.

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