Google is all set to hit by a record multi-billion antitrust fine from the European Commission in the coming weeks.
According to The Telegraph, the European Commission is aiming to slam Google, the world largest search engine with a fine of €3bn ($3.4bn), which would easily be the Commission toughest antitrust punishment to date.
The second biggest antitrust fine now seems minnow in comparison, in 2009 a €1.1bn ($1.25bn) fine was levied on the microchip giant Intel. According to ZDNet, the chipmaker was accused of engaging in anti-competitive practices against AMD, which included direct payments to manufacturers, for the purpose to delay or cancel product launches that used AMD processors.
The Telegraph report cited sources close to the situation saying that the Commission officials had planned to announce the fine as early as next month; however, the bill remains to be finalised.
Sources further added that the maximum fine Google could be facing sum up to almost $7bn i.e. a tenth of the company’s annual sales but $3.4bn is more likely.
Other than facing heavy fines, Google will also be banned from continuing its alleged practice of manipulating search results to favor itself and inflict harm on rivals.
Last month, the European Commission delivered its preliminary view on anti-trust concerns regarding Google’s Android, and it was stated that Google has abused its dominant position by imposing restrictions on Android device manufacturers and network operators.
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