Specifically, the European Commission is looking at whether Google “favors its own online display advertising technology services in the ad-tech supply chain, to the detriment of competing providers of advertising technology services, advertisers and online publishers.” The EC is the EU’s executive branch.
“The formal investigation will notably examine whether Google is distorting competition by restricting access by third parties to user data for advertising purposes on websites and apps, while reserving such data for its own use.”
In addition, “we will be looking at Google's policies on user tracking to make sure they are in line with fair competition,“ said Margrethe Vestager, who’s in charge of the EC’s competition policy.
Alphabet stock recently traded at $2,428, down 0.3%. It has jumped 45% over the past six months.
In other Alphabet news, earlier this month U.S. House members launched a bill that would make Alphabet and fellow tech titans Amazon (AMZN) - Get Report, Apple (AAPL) - Get Report and Facebook (FB) - Get Report split in two or drop their private-label products.
Meanwhile, Alphabet’s self-driving unit Waymo said last week that it raised $2.5 billion from investors including Alphabet itself, Andreessen Horowitz, Silver Lake, and Tiger Global.