GOOGLE has been dealt a record-breaking €2.42 billion fine by the European Union for monopolising the market after building its online shopping service.
The EU committee has warned that if the American company continue their infractions, a 5 per cent daily turnover fine will be imposed on the parent company Alphabet.
Leading the case against the search engine, competition commissioner Margrethe Vestager said: “What Google has done is illegal under EU antitrust rules. It has denied companies the chance to compete and innovate.
“But most importantly, it has denied European consumer a genuine choice of the services and the full benefits of innovation.”
Google has denied the allegations by saying that the data it collects is only to make it easier for consumers to find what they want.
Kent Walker, vice president of the company, argued that the Google shopping system aims “to connect users with thousands of advertisers, small and large, in a way that is useful to both.”
Vestager claimed that “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.”
“We are going to review the Commission’s decision in detail, consider our appeal and continue to lay down our arguments,” Walker maintained.