Shares were little changed on the news and have advanced over 40% this year.The 27-nation EU has spearheaded a global effort to regulate Big Tech companies by implementing standards around artificial intelligence, after previously relying on large fines, including three antitrust penalties for Google worth billions of euros .
Meanwhile, Google said it disagreed with the finding and "will respond accordingly." The company can make its case before the commission issues its final decision.Dan Taylor, Google’s VP of global ads, said the company’s ad technology tools help websites and apps fund their content while enabling businesses of all sizes to effectively reach new customers.
"Google remains committed to creating value for our publisher and advertiser partners in this highly competitive sector," he added.The commission's decision comes after an initial investigation began in June 2021. European Commission Vice President Margrethe Vestager said Google is dominant on both sides of the ad-selling market but abused the position by favoring its own ad exchange, reinforcing its ability to charge a high fee for its services."Google is representing the interests of both buyers and sellers. And at the same time, Google is setting the rules on how demand and supply should meet," she continued at a news conference.
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