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    GOOGL   US02079K3059

ALPHABET INC.

(GOOGL)
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Italy's antitrust regulator fines Google, Apple over data use

11/26/2021 | 06:08am EST

ROME, Nov 26 (Reuters) - Italy's antitrust regulator has fined Alphabet's Google and iPhone maker Apple 10 million euros ($11.2 million) each for "aggressive practices" linked to the commercial use of user data.

The authority said in statement the two tech groups did not provide "clear and immediate information" on how they collect and use the data of those who access their services.

Both Google and Apple said they disagreed with the antitrust's decision and that they would appeal it.

The watchdog said that when users set up their account with Google, the system was designed in such a way that the terms and conditions on data usage were set up to be accepted.

In the case of Apple, users do not have a choice on the issue, the antitrust regulator added.

"We provide industry-leading transparency and control to all users, so they can choose what information to share or not, and how it's used," Apple said in a statement, describing the regulator's view as "wrong".

Google said in a statement it followed "fair and transparent practices to provide users with useful services, as well as provide clear information on their use".

The fine is the maximum amount the watchdog can apply in these cases, the regulator said.

($1 = 0.8903 euros) (Reporting by Giulia Segreti; Additional reporting by Elvira Pollina and Maria Pia Quaglia; Editing by Edmund Blair)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 1.81% 2584.66 Delayed Quote.-10.78%
APPLE INC. -0.06% 159.69 Delayed Quote.-10.07%
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Analyst Recommendations on ALPHABET INC.
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Financials (USD)
Sales 2021 254 B - -
Net income 2021 73 296 M - -
Net cash 2021 137 B - -
P/E ratio 2021 23,9x
Yield 2021 -
Capitalization 1 716 B 1 716 B -
EV / Sales 2021 6,21x
EV / Sales 2022 5,19x
Nbr of Employees 150 028
Free-Float 93,1%
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Number of Analysts 47
Last Close Price 2 584,66 $
Average target price 3 369,61 $
Spread / Average Target 30,4%
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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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