GOOGLE could escape RECORD 5 billion-dollar fine from European Commission for anti-competitive actions

Google and EU to settle antitrust case!
Google intends to sign an agreement with the European Commission in relation to a 3-year antitrust investigation Brussels has opened against the American internet giant.

Google says it is willing to cooperate with the European Institute to escape a fine amounted to $5 billion, representing 10% of it 2012 revenues.

Sources from the EU Commission states that a decision in this regard will be taken no later than next week.

European Competition Commissioner Joaquin Almunia, had rejected two previous proposals from Google which did not please either the EU officials or search engine’s rivals including Yahoo and Microsoft.

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The latest offer, which was submitted this month, said Google would let rivals show their logos and web links in a prominent box in search results, and content providers decide what material Google can use for its own services. Furthermore Google would make it easier for advertisers to promote on rival platforms such as Microsoft’s Bing, informs Reuters.

The Commission revealed that Google favored its own services and products in search results, thus causing significant damages to its competitors.

Google’s possible success in getting rid of the EU penalty would follow an identical outcome with U.S. antitrust regulators.