Poland's UOKIK Accuses Google of Abusing Dominance Over Publisher Payments
GOOG sits 43% above its 52-week low of $236.685.
Summary
Poland's competition watchdog UOKIK has charged Alphabet and its Google entities with potential abuse of dominant market position in dealings with Polish publishers. The regulator alleges Google proposed remuneration to publishers without providing legally required data to assess the offered rates. This is a new regulatory front for Google in Europe, following the €890 million EU fine in July. The charges could lead to penalties and forced changes to Google's publisher compensation practices in Poland. Watch for Google's formal response and any UOKIK decision timeline.
At the time of this announcement, GOOG was trading at $339.25 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.2T. The 52-week trading range was $236.69 to $404.47. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.