The European Commission has the power to impose antitrust fines of upto 10% of a company’s annual sales, which for Google could be 6 billion euros.
The Sunday Telegraph has reported that Google is facing a record 3 billion euros, $3.4 billion, in antitrust fines in the coming weeks.
The EU has accused the search engine giant of promoting its shopping service at the expense of its rivals, in a case that has dragged on since late 2010. The European Commission is likely to announce the quantum of the fine as early as next month, the final figure though has yet to be arrived at.
According to multiple sources who are familiar with the matter at hand, unless the European Commission has changed its stance, Google plans on settling the allegations.
As per the Sunday Telegraph, the EU plans on stopping Google from continuing to favour itself and harming its rivals.
The European Commission can impose a fine of upto 10% of a company’s annual turnover, which in Google’s case could be more than 6 billion euros. The biggest antitrust fine, the European Commission has imposed was 1.1 billion euros for Intel in 2009.
When asked to respond to requests for comments, the European Commission decline while Google did not immediately respond.
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