Reuters reveals Google's adtech business set to face formal EU probe by year-end - Reuters News Agency
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Reuters reveals Google’s adtech business set to face formal EU probe by year-end

Reuters exclusively reported that EU antitrust regulators will open a formal investigation by the end of the year into Google’s digital advertising business, in what could be the biggest regulatory threat to the business that generated $147 billion in revenue last year. An EU probe could result in an order to Alphabet unit Google to change potential anti-competitive practices on top of fines that could reach 10% of its global revenue. Google’s decade-long battle with the EU competition enforcer has already seen it slapped with more than $9 billion in total fines.

Market Impact

Following the Reuters report, Google’s shares were down 1% in early Friday trade.

Article Tags
Topics of Interest: Business & FinanceTechnology
Type: Reuters Best
Sectors: Business & FinanceEquitiesTechnology
Regions: EuropeNorth America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
A sign is seen at the entrance to the Google retail store in the Chelsea neighborhood of New York City, U.S., June 17, 2021. REUTERS/Shannon Stapleton
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