Italian Competition Authority Closes Investigation into Google's Alleged Abuse of Dominance, Commits to Enhancing Data Portability
Portfolio Pulse from Anusuya Lahiri
The Italian Competition Authority has concluded its investigation into Alphabet Inc's Google for alleged abuse of dominance, accepting Google's proposed commitments to enhance data portability. Google's alleged abusive conduct involved obstacles to data sharing interoperability with other platforms. The company has proposed three commitments to address these concerns, including supplementary solutions to its Takeout service and a new solution for direct data portability. In 2022, Google faced a €4.3 billion fine from the EU's top court for abusing its influence.
July 31, 2023 | 1:27 pm
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NEGATIVE IMPACT
Google's commitment to enhance data portability could potentially improve its regulatory standing, but the company's shares traded lower by 0.23% in the premarket.
The conclusion of the Italian Competition Authority's investigation and Google's commitment to enhance data portability could potentially improve its regulatory standing. However, the company's shares traded lower in the premarket, indicating that investors may still have concerns about the company's regulatory issues.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Alphabet Inc's Google has committed to enhancing data portability to conclude the Italian Competition Authority's investigation. However, the company's shares traded lower in the premarket.
The conclusion of the Italian Competition Authority's investigation and Google's commitment to enhance data portability could potentially improve Alphabet's regulatory standing. However, the company's shares traded lower in the premarket, indicating that investors may still have concerns about the company's regulatory issues.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100