Google's antitrust probe deadline set for July
EU antitrust chief Joaquin Almunia has given Internet giant Google until early July to state how it will change its business practices to settle an investigation into allegations it is using its dominant position in the marketplace to abuse competitors.
EU Competition Commissioner Joaquin Almunia said in a speech on Friday:
"I want to give the company the opportunity to offer remedy proposals that would avoid lengthy proceedings. By early July, I expect to receive from Google concrete signs of their willingness to explore this route."
Almunia sent a letter to Google stating the European Commission harbor concerns over some of Google's practices.
An 18-month investigation highlighted these issues, which includes how the search engine giant may be favoring its own services over competition in particular areas -- for example, through price comparisons online. If the company is unwilling to alter parts of its business, it may face antitrust action.
In the Competition Commissioner's speech, he said that if the company's submitted proposals were deemed unsatisfactory, then the EC would take formal proceedings. Regulators would then issue a formal "statement of objections" to take the matter further.
The Commission has the power to impose fines of up to 10 percent of Google's global revenue -- which after 2011's fiscal statement of $37.9bn, could result fees worth billions.
Google, however, disagrees that it is in violation of competitor protection regulations. The company has until July 2 to begin negotiations.
Related: