Google may receive an order from European Union antitrust regulators to sell a part of its ad-tech business, according to a source familiar with the matter who spoke to Reuters.
The anonymous source said that the European Commission, the top antitrust watchdog of the European Union, may issue a formal complaint against the tech giant as early as this Wednesday for abusing its dominance in the digital advertising industry.
The Commission launched an investigation into the company’s ad business last year over its dominance in the field. While break–up orders from the antitrust watchdog are uncommon, the source added that there is an increasing frustration due to the company’s failure to address its competition-related concerns.
According to data from Insider Intelligence (via Reuters), Google currently has the most dominant digital advertising platform in the world, owning a 28% market share of the global ad revenue. During the first quarter of 2023, its parent company Alphabet’s ad revenue was $54.55 billion, and its total revenue hit $69.79 billion.
However, the company has long come under fire and hit by various antitrust investigations around the world due to its position in the ad-tech industry. In late January, The U.S. Department of Justice and eight states sued the company for ‘’monopolizing multiple digital advertising technology products’’.