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Google says its appeal of EU fine isn’t likely to work

By dailymail / Published on Tuesday, 27 Jun 2017 15:07 PM / No Comments

Google was hit with a massive $2.7 billion antitrust fine by the European Union on Tuesday, and it sounds like the company expects to pay it.

In an 8-K filed with the United States Securities and Exchange Commission, Google said it will “review the formal decision, but expects that it will accrue the fine in the second quarter of 2017.”

In other words, Google may not see much of a chance to win in a potential appeal in the suit, and instead expects that it’ll just pay the fine and move onward.

The European Union fined Google for promoting its own shopping results ahead of competitors. Google responded to the fine and argued that its ads help smaller European merchants compete directly with Amazon and eBay. Speaking of Amazon, Google said it views the company as a “formidable competitor” in the space.

In addition to the fine, the EU directed Google to terminate its anti-competitive practices.