EU's Vestager to meet Google's unhappy shopping rivals
By Foo Yun Chee
BRUSSELS, Dec 8 (Reuters) - Europe's antitrust chief Margrethe Vestager will meet with foes of Alphabet unit Google amid mounting criticism that the company's proposal to treat competitors equally was not working out.
The world's most popular internet search engine in September said it would subject its own shopping service to the same criteria as rivals, mainly by giving them the opportunity to bid for ads at the top of a search page.
The proposal followed a record 2.4-billion-euro ($2.82 billion) fine handed down by the European Commission in June and an order to stop its anti-competitive practice.
Competitors have criticised the proposal, saying they do not have Google's financial clout to bid for the top advertising spots.
Vestager said she would take their concerns into consideration.
"Yes, I am meeting with market participants. I listen to their concerns. We take that very seriously. The point of a decision is that it should work," she told a news conference.
"This is a case that will remain on our working desk."
Deutsche Bank analysts estimate Google's European product listing ads (PLAs) business should generate between $4 billion to $5 billion in 2017, representing about 5 percent of the company's total ad revenue.
Failure to address the Commission's concerns could expose Google to fines up to 5 percent of its average daily worldwide turnover. ($1 = 0.8517 euros) (Reporting by Foo Yun Chee; editing by Philip Blenkinsop)
