Sept. 23, 2014 4:48 a.m. ET
BRUSSELS—
Google Inc.
GOOGL -1.34%
Google Inc. Cl A
U.S.: Nasdaq
$597.27
-8.13
-1.34%
Sept. 22, 2014 4:00 pm
Volume (Delayed 15m)
:
1.75M
AFTER HOURS
$595.11
-2.16
-0.36%
Sept. 22, 2014 7:14 pm
Volume (Delayed 15m)
:
37,974
P/E Ratio
30.34
Market Cap
$406.34 Billion
Dividend Yield
N/A
Rev. per Employee
$1,321,030
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must improve its proposal to settle European Union concerns over its search practices or face formal antitrust charges, the EU's competition chief
Joaquin Almunia
said Tuesday.
In a sometimes heated debate with European lawmakers, Mr. Almunia defended his agency's handling of its four-year-old investigation of Google, and insisted he hasn't been swayed by mounting political pressure.
The commission asked Google at the beginning of September to improve its settlement proposal for an unprecedented fourth time after deciding that the previous offer, announced in February, didn't satisfy its concerns, Mr. Almunia said.
If Google fails to deliver the necessary changes, "the logical next step is to move to a statement of objections," or formal charges against the company, Mr. Almunia said.
The commissioner stressed that the investigation is complex because it deals with a fast-changing market, and that U.S. regulators "came out with nothing" in their investigation of Google's search practices.
He drew parallels with the EU's lengthy investigation into
Microsoft Corp.
MSFT -0.97%
Microsoft Corp.
U.S.: Nasdaq
$47.06
-0.46
-0.97%
Sept. 22, 2014 4:00 pm
Volume (Delayed 15m)
:
38.00M
AFTER HOURS
$47.06
0.00
%
Sept. 22, 2014 7:33 pm
Volume (Delayed 15m)
:
688,873
P/E Ratio
17.69
Market Cap
$391.56 Billion
Dividend Yield
2.63%
Rev. per Employee
$677,570
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, which ultimately resulted in huge fines for the U.S. company.
"Microsoft was investigated [for] 16 years, which is four times as much as the Google investigation has taken, and there are more problems with Google than there were with Microsoft," Mr. Almunia said.
He also criticized the "political circus" that has surrounded the Google investigation in Europe, where top politicians have urged the EU to take strong action.
"I strongly reject attempts to transfer competition enforcement into an ordinary political debate," Mr. Almunia said.
Write to Tom Fairless at tom.fairless@wsj.com
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