Google Faces Break-Up Order from EU Over Anti-Competitive Adtech Practices

Alphabet’s (GOOGL.O) Google may have to sell part of its lucrative adtech business to address concerns about anti-competitive practices, EU regulators said on Wednesday, threatening the company with its harshest regulatory penalty to date.

The European Commission set out its charges in a statement of objections to Google two years after opening an investigation into behaviours such as favouring its own advertising services, which could also lead to a fine of as much as 10% of Google’s annual global turnover.

The stakes are higher for Google in this latest clash with regulators as it concerns the company’s biggest money maker, with the advertising business accounting for 79% of total revenue last year.

Read the source article at reuters.com