🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Google challenges record EU antitrust fine in court

Published 11/09/2017, 16:54
© Reuters. Google logo on office building in Irvine, California
INTC
-
GOOGL
-
TRIP
-
GOOG
-

By Foo Yun Chee

BRUSSELS (Reuters) - Google (O:GOOGL) appealed on Monday against a record 2.4-billion-euro (2.20 billion pounds) EU antitrust fine, with its chances of success boosted by Intel's (O:INTC) partial victory last week against another EU sanction.

The world's most popular Internet search engine, a unit of the U.S. firm Alphabet, launched its appeal two months after it was fined by the European Commission for abusing its dominance in Europe by giving prominent placement in searches to its comparison shopping service and demoting rival offerings.

The Luxembourg-based General Court, Europe's second-highest, is expected to take several years before ruling on the appeal.

A court spokeswoman said Google had not asked for an interim order to suspend the European Union decision.

The Commission, which ordered Google to stop the practice by Sept. 28, is reviewing Google's proposal on how it would comply with the EU decision.

The EU competition enforcer will defend its decision in court, a spokesman said.

Lobby group FairSearch, whose members include Google rivals such as British shopping comparison site Foundem and U.S. travel site TripAdvisor (O:TRIP), said the EU decision was sound.

"The Commission's decision stands on firm ground, both legally and factually, and we expect the Commission to win on appeal," FairSearch lawyer Thomas Vinje said.

The EU Court of Justice (ECJ) ordered a lower tribunal last week to re-examine U.S. chipmaker Intel's appeal against a 1.06 billion euro fine, a rare setback for the Commission.

© Reuters. Google logo on office building in Irvine, California

The Google case differs from Intel's, but the judgement has been welcomed by companies under EU scrutiny because it raises the bar for the regulator to prove wrongdoing.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.