Tuesday, 24 October, 2017

Google appeals $2.9 billion European Union antitrust fine

Ellington Financial book value stable in August Google Appeals Record EU Antitrust Fine
Howard Terry | 12 September, 2017, 00:18

The EU Court of Justice (ECJ) told a lower tribunal last Wednesday to re-examine United States chip-maker Intel's appeal against a 1.06bn Euro fine, dealing a rare setback to the European Commission.

Google is now set for a legal showdown in Brussels that could take years to resolve, and add further strain on already tense relations between the company and the EU. Previously it had stated that it "respectfully" disagreed with the Commission's decision.

It gave the company 90 days to comply or face further fines.

A court battle between Brussels and Google could take years to resolve and adds to an increasingly bitter row between the United States giant and European countries.

In an interview with AFP, Europe's anti-trust chief Margrethe Vestager last week said some of that proposal "pointed in the very right direction", but could only be judged once in effect.

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. The tribunal's press service said Google hadn't asked the court to suspend an European Union order for it to change how it displays shopping-search services before it rules on the challenge.

Brussels accused Google of giving its own service too much priority in search results to the detriment of other price comparison services, such as TripAdvisor and Expedia.

Google has appealed a record-breaking €2.4 billion (£2.1 billion; $2.9 billion) fine from European regulators.

Regulators are also expected to levy fines in separate investigations into Google's Android mobile-phone software - possibly as soon as next month - and the AdSense advertising service.

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