Google parent books $2.7B fine as European fight looms
SAN FRANCISCO — Google parent Alphabet is taking a $2.7 billion write-down to cover a large fine EU antitrust enforcers assessed in June . While the search giant can shrug off the cost, uncertainty lingers over its ability to operate freely on the continent going forward.
The European Commission ruling slapped down Google for abusing its market dominance in search by unfairly directing visitors to its comparison shopping service, Google Shopping, to the detriment of its rivals.
Alphabet is still mulling an appeal of that ruling. But it could take years to get a ruling at the European Court of Justice.
That’s just one of several antitrust cases Google faces in Europe. It may also face new fines if it doesn’t change the way it displays Google Shopping results in search by late September.