Google (GOOGL) faces $3.45 billion EU fine over adtech practices

Alphabet’s (GOOGL) Google  faces a 2.95-billion-euro EU antitrust fine for anti-competitive practices in adtech. The move was triggered by a complaint from the European Publishers Council and comes amid tensions with the US over Big Tech regulation. Google has 60 days to comply with the order.

The EU Commission found Google favored its own online display services over rivals and online publishers, abusing market power since 2014. Google must stop self-preferencing practices and address conflicts of interest. The Commission is considering divestment but wants to review Google’s compliance efforts first.

EU Commission warns Google must provide a serious remedy to address conflicts of interest, emphasizing the importance of trust and fairness in digital markets. Google plans to challenge the decision, arguing it will hurt European businesses. The fine is the fourth in Google’s decade-long battle with EU regulators.

Google criticizes the EU decision, stating it will appeal the fine and changes that could impact European businesses. The latest fine is lower than previous penalties, signaling a change in approach by EU antitrust chief Teresa Ribera. Google maintains there are alternatives to its services for ad buyers and sellers.