Google launches appeal against EU's $2.9 billion antitrust fine

Ellington Financial book value stable in August

"Instead, Google abused its market dominance as a search engine by promoting its own comparison shopping service in its search results, and demoting those of competitors".

In June, the European Union official in charge of competition policy, commissioner Margrethe Vestager, told reporters that Google, a unit of U.S. parent company Alphabet, had artificially and illegally promoted its own price comparison service in searches, denied both its consumers real choice and rival firms the ability to compete on a level playing field.

The regulator ordered the company to stop the practice by September. 28.

The company has submitted plans on how it plans to stop favouring its shopping service and these are now being reviewed by Brussels.




The fine was the largest penalty ever issued by the regulator, which also said the firm could face more fines if it continued its practices.

The consideration of this appeal should take at least a year and a half, and given the complexity of the case, rather two years, has there shown to the Court of justice of the EU. And lodging the appeal does not suspend the fine, meaning Google is still obliged to pay, although it can put the money in a blocked account until a decision is made. "And most importantly, it denied European consumers a genuine choice of services and the full benefits of innovation". "We will review the Commission's decision in detail as we consider an appeal, and we look forward to continuing to make our case".

The EU flag is seen with Google logo. The first relates to Android, its operating system on a smartphone, and the second AdSense, its advertising network.

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