Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Google Antitrust Issues: More Google European Antitrust Issues

Google Antitrust Issues: For more than three years, Google Inc (NASDAQ:GOOG) has been dealing with European inquiries pertaining to its business practices. In short, everybody, including other companies, wants to make sure that smaller rivals have the ability to compete on a level playing field.

Google Inc (GOOG)Google Inc (NASDAQ:GOOG) is one of the hedge fund industry’s most popular stock picks, but it’s been displaced by a financial stock recently (see which one here).

Most recently, as reported by The New York Times, 11 web companies went a letter to Europe’s top antitrust official, asking for him to help force the search engine giant to make changes.

Here is a brief excerpt explaining what the letter was all about:

“The letter, organized by one of the original complainants in the case, a British online shopping service called Foundem, asked the European competition commissioner, Joaquin Almunia, to take a hard line in ongoing negotiations with Google to produce “effective and future-proof” concessions that will protect small European competitors.”

It is no secret that the European competition commission has looked into Google’s practices in the past, including its “use of algorithmic standards to rank its own services ahead of those of some competitors.”

Here are a couple of direct quotes from the letter:

“We are becoming increasingly concerned that effective and future-proof remedies might not emerge through settlement discussions alone.”

“In addition to materially degrading the user experience and limiting consumer choice, Google’s search manipulation practices lay waste to entire classes of competitors in every sector where Google chooses to deploy them.”

It is important to note that the letter was signed by many well known companies, from both Europe and the United States, including but not limited to Streetmap EU, Hot Maps, Twenga, TripAdvisor and Expedia.

Right now, the investigation into Google Inc (NASDAQ:GOOG) by the European competition commissioner will continue. It will be interesting to see if this letter leads to any immediate and lasting changes.

Check back here for more updates on Google Antitrust Issues.

What are your thoughts on this? Share your opinion in the comment section below.

DISCLOSURE: I have no positions in any stock mentioned.

For more news stories, visit these pages:

Are America’s Tech Companies Good Investments?

A China-Google Cold War Intensifying?

Samsung’s KNOX to Improve Android Security?

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.