EU Fines Google $3.45B for Giving Its Ad Tech Preferential Treatment
The European Union has fined Google €3.45 billion ($3.65 billion) for giving preferential treatment to its own ad technology services over those of its competitors. The decision comes after a US judge imposed a relatively lenient punishment on Google for operating an illegal monopoly in online search. The EU's antitrust regulators found that Google had abused its dominant position in the digital advertising market by unfairly favoring its own ad-placement services, thereby stifling competition. This practice, known as self-preferencing, was deemed to be in violation of EU competition laws. The hefty fine underscores the growing regulatory scrutiny faced by tech giants like Google, as policymakers grapple with the power and influence of these digital platforms. The ruling also highlights the divergent approaches taken by US and EU authorities in addressing competition concerns in the tech sector.
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