EU may slap record antitrust fine on Google

Google – the Internet search giant – is likely to be slapped with a record fine of up to 3.4 billion dollars by the European Commission for allegedly abusing its supremacy on web searches.

The fine may be imposed under the European Union’s antitrust laws designed to protect trade and commerce from monopolies and unjust business practices.

Google is accused of promoting its shopping service in Internet searches at the cost of rival services in a case that has dragged on since late 2010. The biggest antitrust fine to date was a 1.1 billion-euro penalty imposed on chip-maker Intel in 2009.

Reuters reported that Google has no plans to settle the allegations after three failed attempts to reach a compromise unless the EU watchdog changed its stance.

The Telegraph cited sources close to the situation as saying officials planned to announce the fine as early as next month, but that the bill had not yet been finalised.

The EU officials are planning to announce the fine as early as next month but the bill has not yet been finalised, British newspaper The Sunday Telegraph reported citing sources close to the situation.

Google may also be banned from continuing to influence search results to favour itself and harm rivals, the newspaper said.

Under the relevant rules, the European Commission can fine firms up to 10 percent of their annual sales.

The Commission and Google both declined to comment, Reuters reported.