The European Union's top court has upheld the record antitrust fine of €4.1 billion ($4.67 billion) levied on Alphabet Inc.'s (NASDAQ:GOOGL) (NASDAQ:GOOG) Google over alleged anti-competitive practices.
On Thursday, the Court of Justice rejected Google's appeal against the penalty, thereby affirming the fine imposed for its anti-competitive practices related to the Android operating system.
The search engine giant's shares fell 1.03% in pre-market trading/ The court's decision was communicated in a press release, stating, "The Court of Justice dismisses the appeal brought by Google and Alphabet against that judgment of the General Court, thereby confirming the penalty imposed on them, as revised by the General Court, for their anticompetitive practices relating to the Android operating system." Reacting to the ruling, Google told Reuters it had already updated its agreements in 2018 to comply with the original decision and remains focused on innovation and openness for users, partners, and developers.
Read Also: EU Drops Tariffs on US Industrial Imports, Ursula von der Leyen Hails Transatlantic Ties as 'Most Valuable' Google Faces Growing EU Pressure This ruling comes in the backdrop of increasing scrutiny on Google's practices in Europe.
