Google's Record Fine of $2.8 Billion Was a 'Deterrent,' EU Says
Posted in: Government & Policy at 19/12/2017 14:40
The European Union aimed for a “deterrent effect” on Google and other technology giants when it ordered the internet search provider to pay 2.4 billion euros ($2.8 billion) for breaching antitrust law over how it displays shopping ads.
Regulators weighed “the need to ensure that the fine has a sufficiently deterrent effect not only on Google and Alphabet but also on undertakings of a similar size and with similar resources," the European Commission said in a 215-page document laying out details of its seven-year investigation into the company. The “particularly large” revenue of Google’s parent, Alphabet Inc., also determined the size of the fine, the EU said.