Brussels, Sep 6 (UNI) Tech giant Google has been fined €2.95bn by the EU for allegedly abusing its power in the ad tech sector – the technology which determines which adverts should be placed online and where.
The European Commission said on Friday the tech giant had breached competition laws by favouring its own products for displaying online ads, to the detriment of rivals.
It comes amid increased scrutiny by regulators worldwide over the tech giant’s empire in online search and advertising, reports BBC.
“It imposes an unjustified fine and requires changes that will hurt thousands of European businesses by making it harder for them to make money,” said Lee-Anne Mulholland, global head of regulatory affairs at Google.
“There’s nothing anti-competitive in providing services for ad buyers and sellers, and there are more alternatives to our services than ever before,” she explained.
US President Donald Trump also attacked the decision, saying in a post on social media it was “very unfair” and threatening to launch an investigation over European tech practices that could lead to tariffs.
“As I have said before, my Administration will NOT allow these discriminatory actions to stand,” he wrote.
“The European union must stop this practice against American Companies, IMMEDIATELY!”
Trump has repeatedly criticised the bloc’s fines and enforcement actions against US tech firms in recent months, though the US government has brought its own lawsuits over Google’s monopoly of the online ad market.
In the Commission’s decision on Friday, the Commission accused Google of “self-preferencing” its own technology above others.
As part of its findings, it said Google had intentionally boosted its own advertising exchange, AdX, over competing exchanges where ads are bought and sold in real-time.
Competitors and publishers faced higher costs and reduced revenues as a result, it said, claiming these may have been passed to consumers in the form of more expensive services.
The regulator has ordered the company to bring such practices to an end, as well as pay the nearly €3bn penalty.
