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    GOOGL   US02079K3059

ALPHABET INC.

(GOOGL)
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Delayed Nasdaq  -  04:00:00 2023-01-27 pm EST
99.37 USD   +1.90%
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Factbox-The sun never sets on Google's antitrust woes

01/24/2023 | 04:12pm EST
A Google LLC logo is seen at the Google offices in the Chelsea section of New York City

(Reuters) - Alphabet Inc's Google, whose clout in search, the Android smartphone operating system and online advertising upended those markets, faces antitrust fights in the United States, Europe and India.

The following are some of the antitrust battles Google is fighting globally:

INDIA: Google lost a big fight in India in mid-January when the Supreme Court refused to block an order from the Competition Commission of India which required Google to remove restrictions from its popular Android smartphone operating system. The order, for example, requires Google to allow users to delete apps like its YouTube subsidiary from Android phones.

UNITED STATES:

The U.S. Justice Department sued Alphabet's Google for the second time on Tuesday, accusing the company of abusing its dominance of the digital advertising business and saying it should be forced to sell its ad manager suite. Eight states joined the lawsuit.

The U.S. Justice Department first sued Google in 2020 for violating antitrust law to maintain dominance in search and to extend its dominance into other areas. Trial is set for September. A large set of states filed a related lawsuit.

Also in 2020, Texas, backed by nine other states, filed a lawsuit against Google, accusing the internet search company of breaking antitrust law in how it runs its online advertising business. The case was moved to New York, to be heard with other, similar cases.

SOUTH KOREA: The antitrust regulator fined Alphabet's Google 207 billion won ($176.64 million) in September 2021, saying it abused its dominant market position to restrict competition in the mobile operating system market.

EUROPE: Over the last decade, Google has incurred 8.25 billion euros ($8.24 billion) in EU antitrust fines following three investigations into its business practices. These include allegations Google imposed unlawful restrictions on manufacturers of Android mobile devices and mobile network operators to consolidate the dominant position of its search engine.

BRITAIN: The Competition and Markets Authority has also moved to rein in Google and Facebook. It created a Digital Markets Unit, which could be given powers to suspend, block and reverse decisions made by technology firms and to impose financial penalties for non-compliance.

(Compiled by Diane Bartz; editing by Grant McCool)


ę Reuters 2023
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 1.90% 99.37 Delayed Quote.7.92%
META PLATFORMS, INC. 3.01% 151.74 Delayed Quote.17.58%
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Financials (USD)
Sales 2022 283 B - -
Net income 2022 62 419 M - -
Net cash 2022 114 B - -
P/E ratio 2022 21,0x
Yield 2022 -
Capitalization 1 294 B 1 294 B -
EV / Sales 2022 4,17x
EV / Sales 2023 3,81x
Nbr of Employees 186 779
Free-Float 89,6%
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Technical analysis trends ALPHABET INC.
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Mean consensus BUY
Number of Analysts 51
Last Close Price 99,37 $
Average target price 125,60 $
Spread / Average Target 26,4%
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Managers and Directors
Sundar Pichai Chief Executive Officer & Director
Ruth M. Porat Chief Financial Officer & Senior Vice President
John LeRoy Hennessy Chairman
John L Doerr Independent Director
Ann Mather Independent Director
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