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LEARN MOREPosted: 12:47 p.m. EDT Jun 27, 2017
Google was just fined more than $2.7 billion.
On Tuesday, the European Commission fined the company and accused it of illegally promoting its own comparison shopping service over search results from competitors.
Here's a breakdown: Search for an item on Google and you'll see "sponsored" shopping results at the top of the screen. That's what Google is in trouble for across the pond.
The European Commission notes Google already holds a 90 percent market share in Europe, so the commission says the tech giant is abusing its dominance by promoting its own shopping service.
"What Google has done is illegal under EU antitrust rules. It denied other companies the chance to compete on the merits and to innovate. And most importantly, it denied European consumers a genuine choice of services and the full benefits of innovation," Commissioner Margrethe Vestager said.
The $2.7 billion fine is the largest penalty the European Commission has handed out in this type of antitrust case.
Intel previously held that record with a $1.2 billion fine in 2009.
Google now has 90 days to fix its anti-competitive behavior, or it will face more fines.
In a statement, Google said the ruling "underestimates the value" and the convenience of its shopping ads. The company is considering appealing the decision.
