Google offers concessions to avoid US antitrust lawsuit: report

Alphabet Inc. Google offered concessions to avoid potential US antitrust lawsuit against him advertising technology businessThis was reported on Friday by the Wall Street Journal, citing sources familiar with the situation.

The report says Google has proposed spinning off part of its auction and ad placement business on websites and apps into a separate company run by Alphabet that could be valued at tens of billions of dollars.

Alphabet said in a statement to Reuters that it is working with regulators to resolve their concerns, adding that it has no plans to sell or exit the advertising business.

“We are deeply committed to delivering value to a wide range of publisher and advertiser partners in a highly competitive sector,” parent company Google said in a statement.

The U.S. Department of Justice sued Google in October 2020, accusing the company of illegally using its market power to deter competitors, the biggest challenge to big tech’s power and influence in decades.

In May, Britain’s competition regulator launched a second investigation into Google’s advertising practices, saying the search giant may have distorted competition and may have unfairly favored its own services.

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Google is also facing scrutiny from regulators in Europe, which began investigating last June whether its digital advertising business gives Alphabet an unfair advantage over competitors and advertisers.

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