EU fines Google €3bn for abusing its dominant position in the online advertising market

The European Union has once again fined Google a huge amount because of the company's total dominance of the online advertising market.

Here's What We Know

According to media reports, Google must pay $3.45bn/€2.95bn, which will be the second largest fine from the EU, with the first - to the tune of $5bn - also issued to Google in 2018.

The EU authorities ruled that since 2014, Google had used anti-competitive practices to buy and sell online advertising, taking advantage of its dominant position in the digital marketplace, making it virtually impossible for potential competitors to grow.

However, Google does not consider itself at fault, saying there are enough alternatives in the market and its business practices are not contrary to healthy competition.

The corporation was given 60 days to resolve the "conflict of interest" and conduct business in less aggressive ways.

Go Deeper:

• U.S. Justice Department didn't get its way: Google doesn't have to sell Chrome, but will share user search data with competitors

Source: Reuters