Google has reportedly offered to sell its AdX advertising marketplace to quell monopoly concerns in the EU. According to Reuters, European publishers have rejected Google’s proposal, arguing that the company needs to sell more assets to resolve conflicts of interest in its online advertising business. Lawyers specializing in antitrust litigation said this is the first time Google has offered to sell assets in response to such a lawsuit.
Despite the proposed sale, Google has publicly remained firm about its ad tech business. “As we’ve said before, the European Commission’s lawsuit against our third-party display advertising products is based on a misinterpretation of the fiercely competitive and rapidly evolving ad tech sector. We remain committed to our business,” a Google representative told the publication. We’ve reached out to Google and will update this article if the company provides any further comment.
Google’s control over online advertising has raised concerns around the world, with regulators questioning whether the company’s activities at multiple stages of the ad tech supply chain could favour its own business, creating an unfair advantage that could stifle competition and drive up advertising prices.
The European Commission began pressuring the company’s advertising arm in June last year, and Britain’s competition watchdog earlier this month warned about Google’s potential advertising monopoly. Google is also currently being sued in the United States by the Department of Justice over the same issue.
