Alphabet Inc.'s Google was fined 1.49 billion euros ($1.7 billion) by the European Union for thwarting advertising rivals.
It brings the total Google has been ordered to pay to 8.2 billion euros in EU antitrust probes that have run for nearly a decade and taken aim at the company’s popular software for Android phones and searches related to shopping.
The advertising revenues that fuel profits for Google and Facebook Inc. are increasingly coming under antitrust scrutiny, often prompted by complaints from media companies as advertising spend shifts to the web. France’s competition authority has flagged the scale of Google’s ad business as a potential concern. Germany started an inquiry in February and Dutch regulators have been looking at how media companies generate ad revenue. The U.K. recently signaled it plans to start its own inquiry.
Arabian Business' Bernd Debusmann and Shruthi Nair discuss the fine that google has been charged on today's edition of Inside AB.
(Source: Arabianbusiness.com YouTube channel)