EU Slaps Google With Massive €2.95 Billion Antitrust Fine

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The European Commission has slapped Google with a €2.95 billion fine for abusing its dominance in the search advertising market through "self-preferencing" practices, according to a new Financial Times report. The EU ordered Google to end these behaviors within two months or risk a potential breakup. This marks one of the largest EU fines against a company, following the €4.12 billion Android fine in 2018.

EU competition chief Teresa Ribera warned Google to draw up a "serious remedy to address its conflicts of interest, and if it fails to do so, we will not hesitate to impose strong remedies." 

Lee-Anne Mulholland, Google's global head of regulatory affairs, called the fine "unjustified" and said "it requires changes that will hurt thousands of European businesses by making it harder for them to make money." 

The commission's investigation began around 2021, with formal charges issued in 2023. Brussels warned back then that the only solution for Google might be breaking up its ad-tech business. 

Not since US v Microsoft, filed in 1998, has Silicon Valley been so threatened.  

Meanwhile, in the US, Google earlier this week avoided a breakup order after a judge ruled against forcing divestitures of Chrome or Android. Instead, Google must share more data and stop exclusive distribution deals. 
 


Even as Brussels and Washington ramp up antitrust actions against the tech giant, its New York-listed shares have gone parabolic this year.
 


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