U.S. Stock Market News | "Splitting Up" Spells Trouble? Alphabet, Drops Over 3%
On Wednesday, Google's stock price fell, with both Class A and Class C shares dropping by over 3% as of press time. Media reports citing sources familiar with the matter said that following a U.S. court ruling that Google monopolized the online search market, the U.S. Department of Justice is considering punitive measures against Google, including the rare move of splitting up the company. If the Department of Justice does seek to impose this penalty, Google would become the first company in over two decades to be pushed by the U.S. government to undergo a split and heavy fines for violating antitrust laws. Insiders revealed that if the Department of Justice proceeds with the split plan, the most likely divisions Google would be stripped of are the Android operating system and the Chrome web browser. U.S. government officials are also considering forcing Google to sell its online advertising platform AdWords
According to the financial news app Zhitong Finance, on Wednesday, the stock price of Google (GOOGL.US, GOOG.US) fell, with both Class A and Class C shares dropping by over 3% as of the time of publication. Media reports cited sources familiar with the matter as saying that following a U.S. court ruling that Google monopolized the online search market, the U.S. Department of Justice is considering punitive measures against Google, including the rare move of splitting up the company. If the Department of Justice does seek to impose this penalty, Google would become the first company in over two decades to be pushed by the U.S. government to undergo a split and heavy fine for violating antitrust laws.
Insiders revealed that if the Department of Justice proceeds with the split plan, the most likely departments of Google to be divested are the Android operating system and the Chrome web browser. U.S. government officials are also considering forcing Google to sell its online advertising platform AdWords