No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Europe's top court upheld Google's 4.1bn fine for anticompetitive practices linked to its Android mobile operating system on Thursday.
The European Commission imposed the penalty in 2018, arguing that Google parent company Alphabet had abused its dominance in mobile software by requiring smartphone makers to preinstall its apps, giving the company an unfair advantage.
Google appealed through the EU courts, but the European Court of Justice dismissed the challenge, confirming the reduced 4.1bn figure set by a lower court in 2022, down from the original 4.34bn.
"The Court of Justice dismisses the appeal brought by Google and Alphabet against that judgment of the General Court, thereby confirming the penalty imposed on them, as revised by the General Court, for their anticompetitive practices relating to the Android operating system," said the ECJ.
The ruling leaves in place one of the largest antitrust fines ever issued by the Commission.
As of 1030 BST, Alphabet shares were down 0.11% in pre-market action at $357.49 each.
Reporting by Iain Gilbert at Sharecast.com
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.