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Why Was Google Inc (GOOGL) Acquitted in Europe Earlier?

The European Commission is reportedly planning to file charges against Google Inc (NASDAQ:GOOGL) over allegations it used its position in the search business to victimize other players in the space. The charges would coincide with the ongoing debate in the US that the search giant was acquitted of any wrongdoing because of its high connectedness with the current administration. Speaking to CNBC, Wedbush Securities analyst, James Dix, affirmed that Google’s sentiments in the Street will remain the same as many investors had already foreseen a possible lawsuit in Europe.

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Google Inc (NASDAQ:GOOGL) could be handed a $6 billion fine should it be found to have used its position in the market to favor its services at the expense of others. Some people would argue that a penalty in the range of $6 billion would be a slap on the wrist as the search giant is valued at $300 billion in terms of market cap.

“[..] It is a little hard to know exactly what the size of the ultimate penalty is The size of the penalty weighs into the business decision you make as Google in terms of what settlement you decide to accept if it gets to that,” said Mr. Dix.

Google Inc (NASDAQ:GOOGL) was close to signing a draft compromise agreement on the ongoing investigations over its practices in Europe, but a deal fell through after France and Germany intervened. Dix affirms that a settlement may be agreed in the future based on what the EU wants.

Google Inc (NASDAQ:GOOGL) controls about 90% of the search business in Europe meaning if found to have violated its position it could be forced to alter its business practice in line with the European laws.

Dix who holds a $530 share price target on the stock affirms that the thought of the European anti-trust agency bringing up a lawsuit is not something new and would not in any way affect the company’s sentiment in the Street.

“[..] Given the fact that investigations have been going on for five years, investors have had plenty of time to price in the likely impact of this decision obviously I think,” said Mr. Dix.

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