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Market abuse abused: Google complains against billions of the EU

Tuesday, September 12th, 2017 | Gadgets

The search engine Google is taking legal action against the competition of € 2.4 billion imposed by the EU Commission. This was announced by the US company on Monday, without further details. The court of the European Union (EU court) in Luxembourg confirmed the news agency dpa the receipt of the complaint.

At the end of June, EU competitors were charged with a fine of € 2.42 billion, as the Internet company had used its dominant position in the search for shopping to the detriment of competitors and consumers. Google had criticized the decision, but submitted deadline amendments at the end of August. However, details were not known.
Conditions must be fulfilled despite complaint
The company has until the end of September time to change the disputed business practices. Otherwise, the EU Commission may request further penalties. According to Bloomberg, the penalty could be five per cent of the daily turnover for each day when the conditions are not met. The action now filed has no effect on this.
How long such a process can last is shown by the example of the US chip maker Intel. After the EU commission imposed a bill of exchange in 2009, a high-ranking decision fell in the case last week. Because of formal errors, the procedure before the EU Court has to be rolled out again.

Google's parent company Alphabet posted a high profit decline in the second quarter of this year due to the penalty payment. While the profit for the same period last year was $ 4.88 billion, it was significantly lower at $ 3.52 billion in the second quarter of 2017. The company is also threatened with the abusive exploitation of the Android dominance of smartphones also a fine.

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