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EU Court Upholds Antitrust Ruling, Orders Google to Pay $4.12 Billion

By Senad Karaahmetovic Google-parent company Alphabet (NASDAQ:GOOGL) has been told to pay €4.125 billion ($4.12 billion) by the European Union’s General Court today in an antitrust...
EU Court Upholds Antitrust Ruling, Orders Google to Pay $4.12 Billion © Reuters. EU Court Upholds Antitrust Ruling, Orders Google to Pay $4.12 Billion
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By Senad Karaahmetovic

Google-parent company Alphabet (NASDAQ:GOOGL) has been told to pay €4.125 billion ($4.12 billion) by the European Union’s General Court today in an antitrust ruling.

In 2018, the European Commission fined Google €4.34 billion for breaching EU antitrust rules. Over four years later, the EU’s General Court upheld an antitrust ruling against Google, although it trimmed the fine by just over €200 million.

The Court “largely confirms the European Commission’s decision that Google imposed unlawful restrictions on manufacturers of Android mobile devices and mobile network operators to consolidate the dominant position of its search engine.”

The fine is seen as “appropriate in view of the significance of the infringement.”

Google said it is “disappointed” that the EU Court failed to annul the decision in full.

“Android has created more choice for everyone, not less, and supports thousands of successful businesses in Europe and around the world,” the company’s representatives told Reuters.

Alphabet can appeal the decision in the EU’s highest court.

Earlier today, South Korea imposed a $50.37 million fine on Google for unauthorized personal data collection.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

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EUR/USD

1.0658

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GBP/USD

1.2475

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USD/JPY

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AUD/USD

0.6469

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USD/CAD

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EUR/JPY

168.32

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EUR/CHF

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DAX

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Adidas AG

226.40

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Deutsche Lufthansa AG

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Siemens AG Class N

175.90

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    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
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