Google outlines deal to placate EU’s worries over competition

GOOGLE has outlined a settlement proposal to soothe antitrust concerns, the European Commission confirmed yesterday.

Submitted just before Europe’s deadline, a letter was sent by Google executive chairman Eric Schmidt to European Commission competition chief Joaquin Almunia.

The tech giant was in May presented with a list of four objectionable areas where its practices may be considered as abuse of its dominant position.

This followed an 18-month investigation into the internet company after competitors accused Google of fixing search results in its own favour.

Schmidt’s letter, the content of which is confidential, is an attempt to prevent a fine which could be up to 10 per cent of Google’s global revenues, which were $37.9bn (£24.1bn) last year.

Europe’s second highest court last week upheld a multi-million fine that will see Microsoft pay €860m (£689.4m) after failing to allow its competitors access to information on reasonable terms.