Google under fire after British competition regulator launches second probe on ad-tech
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Google (NASDAQ:GOOG) (NASDAQ:GOOGL) is under scrutiny as a British regulatory agency said on Thursday that it was launching a second probe into the company's advertising business, this time focusing on ad technology.
The Competition and Markets Authority, or CMA, said on Thursday that it is looking into Google's (GOOG) (GOOG) practices to see if the tech giant is distorting competition, potentially by limiting the interoperability of its ad exchange with third-parties, "making it more difficult for rival ad servers to compete."
"Weâre worried that Google may be using its position in ad tech to favor its own services to the detriment of its rivals, of its customers and ultimately of consumers," Andrea Coscelli, the CMAâs Chief Executive, said in a statement.
"This would be bad for the millions of people who enjoy access to a wealth of free information online every day."
Google parent Alphabet (GOOG) (GOOGL) saw its shares rise 0.5% to $2,127.87 in premarket trading on Thursday.
The initial probe by the CMA earlier this year looked into a deal between Google (GOOG) (GOOGL) and Facebook-parent Meta Platforms (FB) concerning their "Jedi Blue" agreement.
Earlier this month, investment firm Bank of America suggested that Alphabet (GOOG) (GOOGL) and Meta Platforms (FB) were the two best tech stocks to own if a recession comes to fruition.