Google appeals £2.2bn Brussels fine

Ellington Financial book value stable in August

The European Commission fined the company €2.4 billion (US$2.9 billion) to punish it for abusing its dominant position in the search engine market to illegally promote its comparison shopping service.

The European Commission had found that Google's shopping service had seen traffic jump 45-fold in the United Kingdom when it began to abuse its dominance.

The EC has ordered Google to stop its anti-competitive behaviour by 28 September, or risk penalty payments of as much as 5 percent of Alphabet's average daily worldwide turnover.

A spokesman for Google confirmed Monday they had filed the appeal but said the company had no further comment to make.

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"The Commission's decision stands on firm ground, both legally and factually, and we expect the Commission to win on appeal", FairSearch lawyer Thomas Vinje said.

"Google's strategy for its comparison shopping service wasn't just about attracting customers by making its product better than those of its rivals", commissioner Margrethe Vestager, who is in charge of competition policy, said when June's decision was announced.

The EU Court of Justice (ECJ) told a lower tribunal last Wednesday to re-examine U.S. chip-maker Intel's appeal against a 1.06bn Euro fine, dealing a rare setback to the European Commission.

It was the biggest fine ever handed to a single company in an European Union anti-trust case, beating a almost €1.1bn penalty that U.S. chipmaker Intel was forced to pay back in 2009. It denied other companies the chance to compete on the merits and to innovate.

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