Google Is on the Verge of Settling the Antitrust Probe with the EU Reuters

Sources say that the two entities are likely to sign the deal in the next few weeks

By on January 29th, 2014 14:18 GMT

Google is reportedly getting ready to settle the antitrust probe with the European Commission.

The company had hoped that it would wrap up the three-year-long case several times so far, but the Commission kept asking for more concessions from Google.

Now, Reuters reports that a settlement is in the works. Google is likely to escape a fine that could go as high as $5 billion (€3.66 billion) or 10 percent of the 2012 revenues.

The deal could be signed in the next few weeks at the latest, Reuters writes, quoting a senior European Union official.

A previous offer was rejected, EU Competition Commissioner Joaquin Almunia saying that it was unacceptable. Several weeks ago, a new proposal was drafted and if reports are true, it means that they have all reached a compromise.

Things may go even smoother now since the European Union regulators will not seek feedback from the 125 rivals, including Microsoft, like on previous occasions.

The US company was expected to start displaying logos of competitors and web links in a prominent box over its search engine, among many other things.
Google and the European Union might finally reach an agreement
   Google and the European Union might finally reach an agreement
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