French watchdog fines Google 220 million euros for abuse of market power in the ad business

© Reuters. FILE PHOTO: The logo of Google is seen on a building at La Defense business and financial district in Courbevoie near Paris, France, September 1, 2020. REUTERS/Charles Platiau/File Photo

PARIS (Reuters) – The French antitrust authority said on Monday it had handed down a 220 million euro ($267 million) fine to Alphabet (NASDAQ:)’s Google for abusing its market power in the online advertising business.

The watchdog said the sanction was the first of its kind in the world and that it had reached a settlement with the U.S. firm under which Google agreed to end some of its self-preferencing practices in the intricate automated online advertising business.

($1 = 0.8226 euros)

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