European Union regulators on Friday hit Google with a 2.95 billion euro ($3.5 billion) fine for breaching the bloc’s competition rules by favouring its own digital advertising services, marking the fourth such antitrust penalty for the company as well as a retreat from previous threats to break up the tech giant.
The European Commission, the 27-nation bloc’s executive branch and top antitrust enforcer, also ordered the US tech giant to end its “self-preferencing practices” and take steps to stop “conflicts of interest” along the advertising technology supply chain.
Google said the decision was “wrong” and that it would appeal.
“It imposes an unjustified fine and requires changes that will hurt thousands of European businesses by making it harder for them to make money,” Lee-Anne Mulholland, the company’s global head of regulatory affairs, said in a statement.
The decision was long overdue, coming more than two years after the European Commission announced antitrust charges against Google.
