The European Union may launch more antitrust probes against
internet search engine behemoth Google Inc(NASDAQ:GOOG), EU Competition
Commissioner Joaquin Almunia said on Wednesday.
He told reporters in Brussels that while no new
investigation had been launched against the company, he did not exclude further
probes in the future.
Get Complete Analysis
on GOOG For Free
Here
Mountain View-based Google is already battling an on-going
investigation on violating antitrust laws in the EU, while the U.S. Federal
Trade Commission and regulators in Argentina and South Korea are probing the
company to check for monopolistic practices which could be thwarting competition
in its core area of web searches.
Google is trying to settle concerns raised by the EU’s
commission that it was promoting its own search services, while stifling
offerings by competitors. A spokesman for the company said that it was working
in cooperation with the regulator. EU’s antitrust agency began the probe
against Google on allegations that its search results often did not show up
services offered by competitors.
Joaquin said that regulators would review the solutions
offered by Google and reach an amicable settlement for the on-going
investigation.
Shares of GOOG ended higher by 0.07% to $607.99 on
Wednesday. Earlier this week, the stock had posted strong gain following its
quarterly earnings.
No comments:
Post a Comment