Google parent books $2.7B fine as European fight looms

July 24, 2017
This Tuesday, July 19, 2016, file photo shows the Google logo at the company's headquarters in Mountain View, Calif. Alphabet Inc., the parent company of Google, reports earnings on Monday, July 24, 2017. (AP Photo/Marcio Jose Sanchez, File)

Google parent Alphabet is taking a $2.7 billion write-down to cover a large fine EU antitrust enforcers assessed in June . While the search giant can shrug off the cost, uncertainty lingers over its ability to operate freely on the continent going forward.

The European Commission ruling slapped down Google for abusing its market dominance in search by unfairly directing visitors to its comparison shopping service, Google Shopping, to the detriment of its rivals.

Alphabet is still mulling an appeal of that ruling. But it could take years to get a ruling at the European Court of Justice.

That's just one of several antitrust cases Google faces in Europe. It may also face new fines if it doesn't change the way it displays Google Shopping results in search by late September.

Explore further: Patrick May: Google will barely feel multibillion-dollar slap on the wrist

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NIPSZX
not rated yet Jul 25, 2017
Now you know Alphabet stock is about to spike ramp up more! To the moon Alice!

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