WNAM MONITORING: The EU has fined the technology company Google €2.95 billion (some $3.5 billion) for violating competition rules in its digital advertising activities.
The EU Commission announced on Friday that it had completed its investigation into the US company Google for violating EU competition rules in the advertising technology sector.
The statement said that Google was found to have violated the rules by favoring its own online advertising technology services over its competitors and that the company was therefore fined.
The statement also indicated that the EU Commission had ordered Google to cease its preferential practices and eliminate conflicts of interest in the advertising technology supply chain, noting that the company must formally notify the EU of the steps it will take in this regard within 60 days.
The EU, which launched a competition investigation into Google over advertising in 2021, accused the company in 2023 of violating competition rules in its digital advertising activities.
The EU claimed that Google had abused its position since 2014 to favor its own services in advertising markets and selection, enabling it to charge higher fees for the services it offers.
It stated that this behavior constituted a violation of EU rules prohibiting the abuse of a dominant position in the market.
