"Late fee larger due to the effects of such abuses, " said Vestager, as quoted from CNBC.
However, who would have thought that the amount is equivalent to the income received by the parent company Google, Alphabet in two weeks. The fines also predicted will have no effect on the cash Alphabet.
Alphabet estimated to have reserves of cash and short-term investments amounted to $102.9 billion and the US reaching for a net profit of USD 12.6 billion in 2017.
So, this fine will only erode cash reserves of 5% of the Alphabet or 40% of the net profit of Alphabet in 2017. But, Google could face additional fines if it did not manage to fulfill the demand of the European Union in the 90 days since the fine was dropped.
Additional fines can be up to 5% of the average daily income of global Alphabet. After taken from Google, this money will be deposited in a bank account closed until all court appeals are run.
If the results of the Court of Appeal approved the fines, then the money will be sent to the European Union for distribution to its member countries. But, if the Court of Appeal refused the fine money will be returned to Google.
