Google will pay $2.7b fine for breaching EU antitrust rules

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The European Union on Tuesday gave a shock to internet giant Google with a fine of €2.42 billion (2.4-billion-euro) for breaching EU antitrust rules with its online shopping service.

In a statement, European regulators said, “Google has abused its market dominance as a search engine by giving an illegal advantage to another Google product, its comparison shopping service”.

“Google`s strategy for its comparison shopping service wasn`t just about attracting customers. It wasn`t just about making its product better than those of its rivals. Instead, Google has abused its market dominance as a search engine”, Margrethe Vestager, European Union said.

Google’s entry into the online shopping has created a good space for both its retailers and customers and was not a monopoly player in online shopping.

It was reported that the Internet giant Google has a 90 percent share of internet searches in Europe.

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