The European Commission will impose a fine of €2.95 billion on Alphabet💡

The European Commission has fined Alphabet (GOOGL.US) €2.95 billion for anti-competitive practices in the online advertising sector. Regulators found that since 2014, Google has favored its own advertising technologies at the expense of competitors and publishers. The company has been ordered to end such practices and adjust its business model. Google has announced that it will appeal the decision, claiming that the fine is unjustified. Vice President for Regulatory Affairs Lee-Anne Mulholland warned that the forced changes could harm thousands of European businesses. The case deepens tensions between EU regulators and tech giants, particularly in the area of digital advertising. Despite this news, the company's shares continue to record significant gains. However, the momentum has slowed somewhat.

Source: xStation

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