The European Commission has imposed a fine of €2.95 billion (approximately $3.5 billion) on Google, citing allegations of the company abusing its dominant position within the advertising technology sector. According to the Commission, these practices may have led to increased costs for both advertisers and publishers, which could, in turn, affect prices for consumers.
In conjunction with the fine, the Commission has mandated that Google submit a plan within 60 days to address the alleged anticompetitive practices. The Commission has indicated that if Google does not present a viable solution, it may take further actions, including potentially requiring Google to divest certain parts of its advertising technology business.
In response to the ruling, Lee-Anne Mulholland, Google’s Vice President and Global Head of Regulatory Affairs, expressed disagreement with the decision, labeling it as incorrect. She stated that Google intends to appeal the fine and asserted that the required changes could adversely affect many European businesses by complicating their revenue-generating capabilities.
This development occurs amid ongoing scrutiny of major tech companies and their market practices in Europe.
Source: https://www.theverge.com/news/772848/google-ad-tech-eu-antitrust-fine