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EU regulators hit Google with $1.7B fine

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The European Commission ordered Google to pay a $1.7 billion fine.

European Union regulators allege Google stifled online advertising competition by blocking rivals in search results.

Margrethe Vestager, the EU's competition commissioner, said Google stopped the companies from being able to "compete and innovate fairly" in the online ad market.

Read more from CNBC.

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