EU fines Google 4.3b euro

However you look at it, the amount is massive! The European Union (EU) has slapped Google with a 4.3 billion euro fine for blocking its rivals from Android.

This is Google’s second run in with the EU, having been fined a then record 2.4 billion euros for a similar act from its online shopping search service last year.

To most companies, such massive fines might break them but Alphabet, Google’s parent company, has cash reserves of US$102.9 billion.

The EU is giving the search giant 90 days to either stop such anti-competitive practices or seek a delay of the order while it appeals or risk being penalised up to five per cent of average daily global revenue for non-compliance.

“Today’s decision rejects the business model that supports Android, which has created more choice for everyone, not less. We intend to appeal,” wrote Sundar Pichai, CEO of Google in a blog.

 

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