Google On Friday, an anti-trust fine of 29.5 billion euros ($3.45 billion) from European Union regulators was hit with anti-competitive practices in the lucrative advertising technology business.
The European Commission, the EU’s executive body, accused Google of distorting competition in the so-called AdTech market by unfairly endorsing its own display ad technology services that put rivals its rival AdTech providers, advertisers and online publishers.
It also ordered Google to “end these self-preference practices” and “implement measures to halt its inherent conflict of interest along the Adtech supply chain.” The company has a 60-day service.
“Today’s decision shows that Google abused Adtech’s dominant position of harming publishers, advertisers and consumers. This action is illegal under EU anti-trust regulations,” EU competition chief Teresa Ribera said Friday.
“Google must take serious remedies to address conflicts of interest, otherwise we will not be averse to impose strong remedies.”
Lee-Anne Mulholland, Google’s global regulator director, said the EU’s decision was “wrong” and that the company would appeal.
“It requires changes that will hurt thousands of European businesses by imposing unfair fines and making it difficult for them to make money,” Mulholland said. “There is nothing anti-competitive about providing services to advertising buyers and sellers, and there is a more alternative to our services than ever before.”
The company said it expects a fine in the third quarter, according to a filing with the Securities and Exchange Commission.
This case goes back to 2021, when the EU first began investigating Google and assessed whether the tech giant prefers its own online display ad technology service.
The news comes after Reuters reported earlier this week that the committee delayed the fine as regulators waited for the US to cut tariffs on European cars as part of a trade deal.
