US Internet search giant Google on Thursday rejected accusations by EU anti-trust regulators that it illegally abuses its market dominance, in its first formal reaction to allegations by Brussels earlier this year. "We believe that the statement of objections'' preliminary conclusions are wrong as a matter of fact, law, and economics," Google general counsel Kent Walker said in a blog post, referring to the European Union''s official complaint filed in April.
By standing its ground in the formal response, Google leaves the daunting decision to further pursue one of the world''s most far-reaching companies to EU Competition Commissioner Margrethe Vestager, a steely Dane and Europe''s top anti-trust regulator. The stakes are huge for Google which if found at fault under EU anti-trust rules, could face a fine of up to 10 percent of its annual sales - in Google''s case, $66 billion in 2014. "We''ve taken seriously the concerns in the European Commission''s statement of objections that our innovations are anti-competitive," Walker said. "The response we filed today shows why we believe those allegations are incorrect, and why we believe Google increases choice for European consumers and offers valuable opportunities for businesses of all sizes," he said.
In April, Vestager formally accused Google of abusing its dominance in Europe where the brand holds an imposing 90 percent of the search engine market, greater even than the US, where Google stands at 76 percent. "The Commission can confirm that it has today received Google''s reply to the statement of objections," Commission spokesman Ricardo Cardoso said in a statement.
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