EU Fines Google $5 Billion Over Android Antitrust
Less than 20 minutes ago, the whopping news broke that the European Union has fined Google $5 billion €4,34 bn over antitrust and competitive laws around Android. Margrethe Vestager, the European Commissioner for Competition wrote on Twitter that it is time Google stop these practices and this will make them.
She wrote:
The European Commission ordered Google to end the illegal practices within 90 days or face additional penalties of up to 5 percent of parent Alphabet’s average daily worldwide turnover.
Google currently has $102.88B in cash on hand, so this is affordable but it is a huge record breaking dollar figure for a fine. Previously, Google was fine €2.42 billion in 2017 and this is about twice that amount.
Of course, Yelp is satisfied with this.
I am sure Google will fight this some how.
Update: Here is Google’s statement, “Android has created more choice, not less.”
