Google To Pay Record Breaking Antitrust Fine Around 3 Billion Euros - Exclusive Story
Hello buddies !!! Got you a very hot news, Google faces a record antitrust fine of around 3 billion euros ($3.4 billion) from the European Commission in the coming weeks.Know the reason why Google has to pay a huge record breaking fine of 3 billion euro's .
The European Commission is planning to fine the world’s most valuable company Tech Giant Google about 3 billion euros ($3.4 billion). This would surpass antitrust punishment which was laid over Intel corp of 1.1 billion-euro .
The move would be a great blow for the Search Engine Provider Google, a unit of Alphabet Inc., which has fought European antitrust charges for seven years. Europe’s main focus has been Google’s shopping search service, which regulators argued the company favored over competitors in its general search results. But Google faces other probes in the region, including into its Android mobile operating system.Google was finned because of abusing search monopoly in Europe
Google will also be banned from continuing to manipulate search results to favor itself and harm rivals.
The European Commission can fine firms up to 10 percent of their annual sales, which in Google's case would be a maximum possible sanction of more than 6 billion euros. The biggest antitrust fine to date was a 1.1 billion-euro fine imposed on chip-maker Intel in 2009.
($1 = 0.8841 euros)