Canada's antitrust watchdog sues Google
Published On Nov 28, 2024, 6:05 PM
Canada's Competition Bureau has filed a lawsuit against Google, accusing the tech giant of anti-competitive practices in the online advertising sector. The Bureau alleges that Google has linked its advertising tools in such a way that allows it to maintain dominance over the market and distort ad auctions. They are requesting that Google be ordered to sell two of its ad tech tools and be fined up to 3% of its global revenue. Google has denied these allegations, suggesting that the advertising ecosystem is competitive and that their tools support businesses and content providers.
Stock Forecasts
GOOGL
Negative
The lawsuit could create additional regulatory risks for Google, potentially limiting its market share in the ad tech space. Historically, similar antitrust actions have had negative impacts on stock prices in the short term due to investor concerns over fines and operational restructuring. However, the long-term impacts will depend on the outcomes of these legal actions.
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