Booking.com Fined Over $447M By Spanish Regulator: Report
Portfolio Pulse from Shivani Kumaresan
Booking Holdings Inc (NASDAQ:BKNG) has been fined €413.2 million ($447.1 million) by Spain's competition regulator, CNMC, for imposing unfair conditions on Spanish hotels. The CNMC's ruling mandates changes to ensure fair competition, impacting Booking's market practices in Spain.
July 31, 2024 | 2:40 pm
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Booking Holdings Inc (NASDAQ:BKNG) has been fined €413.2 million ($447.1 million) by Spain's competition regulator, CNMC, for imposing unfair conditions on Spanish hotels. The ruling mandates changes to Booking's market practices in Spain.
The significant fine and mandated changes to Booking's market practices in Spain are likely to negatively impact the company's short-term stock price. The fine is substantial, and the required changes could affect Booking's competitive edge and market share in Spain.
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