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June 22, 2021, 3:55 p.m. EDT

EU opens probe on Google’s digital advertising business

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By Pierre Briançon

The European Commission said on Tuesday it had opened a formal probe into Google’s digital advertising business in order to assess whether the U.S. company is distorting competition by favoring its own business.

  • The probe is to determine whether Google /zigman2/quotes/202490156/composite GOOGL +3.18% is “restricting access by third parties to user data for advertising purposes on websites and apps, while reserving such data for its own use,” the European Commission said in a release.

  • Google generated $147 billion in revenue from online ads last year , according to Reuters.

  • The European Union competition watchdog has fined the company more than €8 billion ($9.5 billion) in the last decade for distorting competition in online shopping, Android smartphones and online advertising.

From the archives (April 2021): Google pledges $29 million to new EU fund to tackle fake news

The outlook: The probe, which began informally two years ago, is similar to one initiated by a group of U.S. states last year. It will now last for months, and the Commission has no deadline to bring it to an end.

/zigman2/quotes/202490156/composite
US : U.S.: Nasdaq
$ 2,721.88
+83.88 +3.18%
Volume: 4.76M
July 28, 2021 4:00p
P/E Ratio
29.51
Dividend Yield
N/A
Market Cap
$1799.58 billion
Rev. per Employee
$1.35M
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