The Traderszone Network

Published in TZ Latest News 27 August, 2015 by The TZ Newswire Staff

Google rejects ‘unfounded’ EU antitrust charges of market abuse

Google Inc (GOOGL.O) has rejected EU antitrust charges that it abused its market power, exposing the company to the risk of a hefty fine if it does not alter its business practices. The company’s comments came after the European Commission in April accused it of distorting internet search results to favor its shopping service, harming both rivals and consumers. “Economic data spanning more than a decade, an array of documents and statements from complainants all confirm that product search is robustly competitive,” Kent Walker, Google’s general counsel, wrote in a blog on Thursday.