Google (GOOG) Antitrust Offer 'Not Acceptable', EU's Almunia Says
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While Google (Nasdaq: GOOG) moved to settle its antitrust case with the European Union, the agency said Friday that terms were not acceptable.
Reuters and other sources noted comments from EU competition commissioner Joaquin Almunia, who said,
Having started three-years ago, Google submitted second set of concessions last October to qualm fears that it is moving to squeeze out competition from search results. Rivals have said that Google's remedies don't ease antitrust fears and the search giant would still be able to discriminate against them.
Should the EU go against a settlement of the case, it could commence a formal complaint, which could result in large fines and fees for Google.
Shares of Google are positive in early trading Friday.
Reuters and other sources noted comments from EU competition commissioner Joaquin Almunia, who said,
The latest offer as submitted by Google in October ... the latest proposals are not acceptable in the sense that they are not proposals that can eliminate our concerns regarding competition and in particular regarding the way Google's rivals in vertical search ... are being treated
Having started three-years ago, Google submitted second set of concessions last October to qualm fears that it is moving to squeeze out competition from search results. Rivals have said that Google's remedies don't ease antitrust fears and the search giant would still be able to discriminate against them.
Should the EU go against a settlement of the case, it could commence a formal complaint, which could result in large fines and fees for Google.
Shares of Google are positive in early trading Friday.
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