An antitrust fine of almost three billion euros that will be around USD 3.4 billion is faced by one of the most popular internet giant that is Google. Google had promoted its shopping service on the Internet. But the cost of this shopping service was borne by other rival services and therefore it was fined with charges of antitrust. The Sunday Telegraph, which is a British news paper, states that it is quite likely that Google will also be stopped from continuing to manipulate search results which will tend towards favouring itself and harming other rival companies.
Reuter reports that the commission has the power to fine a firm that has committed a crime an amount equal to 10 percent of their annual sales. On the basis of this calculation Google may have to pay a fine of more than six billion euros.In the year 2009 a fine was imposed on Intel Corporation which was the largest semiconductor maker an amount of 1.1 billion euro. Till date this was the highest fine imposed on any company. Now this record will be broken by Google.
U.K.’s Telegraph newspaper reporter states that European antitrust authorities are in the process of imposing a record breaking fine in the near future on Google for misusing its dominance on online search market. The news paper also states that Margrethe Vestager, an EU senior officer plans to announce the fines and restrictions in June. For seven years Google, which is a unit of Alphabet Inc., has fought European antitrust charges but now this move will be a big blow to Google.